Deutsche Bank is reportedly not going to do any future business with Trump
A flag of Deutsche Bank AG flies in front of the company’s headquarters on Wall Street in New York.
Mark Kauzlarich | Bloomberg | Getty Images
Deutsche Bank is Trump’s largest lender with approximately $ 340 million in outstanding loans to the Trump Organization, the president’s umbrella organization currently overseen by his two sons, according to Trump’s announcements to the U.S. Department of Government Ethics dated July 31 last year plus banking sources.
The Times-reported move, citing a person familiar with the bank’s mindset, comes when Signature Bank – where Trump’s ethical disclosures show he has checking and money market accounts – asked him to resign.
“The resignation of the president … is in the best interests of our nation and the American people,” Signature Bank said on its website.
A spokesman for Deutsche Bank did not want to comment on the Times report on Tuesday.
The Trump Organization did not immediately respond to an email asking for comment outside of normal business hours, and the White House press office did not answer the phone.
Christiana Riley, head of US operations at Deutsche Bank, condemned the January 6 violence in Washington in a post on LinkedIn last week.
“We are proud of our constitution and stand by those who want to uphold it, to ensure that the will of the people is respected and that there is a peaceful transfer of power,” she wrote.
Reuters reported in November that Deutsche Bank was looking for ways to end its relationship with Trump after the US election as it got tired of the negative publicity that resulted from the ties.
Trump’s loans with the Germans relate to a golf course in Miami and hotels in Washington and Chicago.
The president was reprimanded by the professional golf world this week, with the PGA of America and R&A both announcing they would avoid two golf courses owned by the president following the Capitol storm.
Twitter and Facebook have dropped Trump’s social media feeds.