Deutsche Bank will not do business in the future with US President Donald Trump or his companies in the wake of his supporters’ deadly January 6 assault on the US Capitol.
Deutsche Bank is Trump’s most important lender, with about $340 million in loans outstanding to the Trump Organization, the president’s umbrella group that is currently overseen by his two sons, reports Reuters citing New York Times that quoted a person familiar with the bank’s thinking.
A spokesman for Deutsche Bank declined to comment on Tuesday. The Trump Organization did not immediately respond to an email seeking comment outside normal business hours, and the White House press office did not answer the phone.
Christiana Riley, the head of the bank’s US operations, last week condemned last week’s violence in a post on LinkedIn.
“We are proud of our Constitution and stand by those who seek to uphold it to ensure that the will of the people is upheld and a peaceful transition of power takes place,” she wrote.
Reuters reported in November that Deutsche was looking for ways to end its relationship with Trump after the US elections, as it tires of the negative publicity stemming from the ties.