Deutsche Bank won’t do future business with Trump in wake of U.S. Capitol riots: Report

Click to play video: 'U.S. Capitol riot: Trump faces 2nd impeachment as presidency nears end' U.S. Capitol riot: Trump faces 2nd impeachment as presidency nears end
Warning: This video contains violent content. Discretion advised. U.S. President Donald Trump is facing down his second impeachment of his presidency as his term comes to an end after House Democrats formally filed a single charge of 'incitement of insurrection' against him following last Wednesday's riot by pro-Trump supporters at the Capitol building. It's part of a two-pronged effort as Democrats also introduced a resolution calling on Vice-President Mike Pence to invoke the 25th Amendment to remove Trump from office, though Republicans blocked the initial attempt Monday, forcing it to a floor vote Tuesday. If Pence does not do so within 24 hours, impeachment will proceed – Jan 11, 2021

Deutsche Bank will not do business in the future with U.S. President Donald Trump or his companies in the wake of his supporters’ assault on the U.S. Capitol, the New York Times reported.

Deutsche Bank is Trump’s biggest lender, with about US$340 million in loans outstanding to the Trump Organization, the president’s umbrella group that is currently overseen by his two sons, according to Trump’s disclosures with the U.S. Office of Government Ethics dated July 31 last year, plus banking sources.

Read more: Right-wing Parler app removed from internet after U.S. Capitol riot

The move, reported by the NYT and citing a person familiar with the bank’s thinking, comes as Signature Bank – where Trump’s ethics disclosures show he has checking and money-market accounts – called for him to step down.

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“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 declined to comment on Tuesday on the NYT report.

Read more: More than a dozen U.S. lawmakers joined protest at the Capitol

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 Deutsche Bank’s U.S. operations, condemned the Jan. 6 violence in Washington in a post on LinkedIn last week.

“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.

Click to play video: 'U.S. Capitol riot: Republicans join growing calls for Trump to resign' U.S. Capitol riot: Republicans join growing calls for Trump to resign
U.S. Capitol riot: Republicans join growing calls for Trump to resign – Jan 10, 2021

Reuters reported in November that Deutsche Bank 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.

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Trump’s loans with Deutsche are for a golf course in Miami and hotels in Washington and Chicago.

The president was handed a rebuke by the world of professional golf this week, with the PGA of America and the R&A both announcing they would shun two courses owned by the President in the wake of the Capitol storming.

Twitter and Facebook have shut down Trump’s social-media feeds. (Reporting by Tom Sims; Editing by Louise Heavens and Pravin Char)

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