Deutsche Bank Will Not Do Future Business with Trump

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The logo of Deutsche Bank AG sits on the exterior of a bank branch in Berlin, Germany, on Monday, Oct. 12, 2015. Deutsche Bank co-Chief Executive Officer John Cryan may eliminate a dividend that's stood since Germany's postwar reconstruction as he tries to overhaul the firm without asking shareholders for more capital. Photographer: Krisztian Bocsi/Bloomberg

Deutsche Bank will not do business in the future with United States President, Donald Trump or his companies in the wake of his supporters’ deadly January 6 assault on the US Capitol, the New York Times reported.

Deutsche Bank is Trump’s most important lender, with about $340 million in loans outstanding to the Trump Organisation, the president’s umbrella group that is currently overseen by his two sons.

Reuters quoted NYT to have cited a person familiar with the bank’s thinking.

A spokesman for Deutsche Bank declined to comment on Tuesday. The Trump Organisation did not immediately respond to an email seeking comment outside normal business hours, and the White House press office did not answer the phone.

Head of the bank’s US operations, Christiana Riley, 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 U.S. elections, as it tires of the negative publicity stemming from the ties.