BREAKING: Deutsche Bank Quits Business With Donald Trump—German banking giant with over €1.2 trillion in assets, Deutsch Bank has cut ties with Donald Trump, with the firm that has propped up the Trump Organization for two decades reportedly announcing it would no longer do business with the disgraced president.
The German bank’s move – reported by the New York Times – follows Wednesday’s deadly attack on the US Capitol building by a mob of Trump supporters. The number of corporations disassociating themselves from Trump is now turning into an avalanche.
Deutsche Bank has been Trump’s most important lender. The Trump Organization, fronted by his two older sons, owes the bank about $340m in outstanding loans. After a series of bankruptcies in the 1990s, it was the only bank willing to give Trump money.
The report disclosed that Trump’s organizations owe the German lender over $300 million.
Signature Bank said:
- “We believe the appropriate action would be the resignation of the President of the United States, which is in the best interests of our nation and the American people.”
Deutsch Bank announced it will not do business with the outgoing President anymore according to sources, the Trump Organization owes the bank $340 million.
Christiana Riley, Deutsch Bank U.S. Operations Head, condemned the attack on the capitol last week saying:
“Yesterday was a dark day for America and our democracy. 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.”