It has emerged that Deutsche Bank will cease to do business in the future with US President Donald Trump and his companies. The reason that the bank has given for their decision is the riots that occurred on the 6th of January on the US Capitol. This news comes after President Trump was permanently suspended from Twitter and other social media platforms last week.
UNN’s Oliver Down understands that Deutsche Bank’s decision will be a blow for President Trump as the bank was one of the President’s most important lenders. Currently, there are around $340 million in loans that are outstanding to the Trump Organization which is the president’s umbrella group that is currently overseen by his two sons.
The spokesman for Deutsche Bank is currently declining to comment on these developments that were broke by the New York Times. At this stage it has also not been possible to access a statement from the Trump Organization or from President Trump himself. Some have speculated that this could be due to his removal from social media.
Deutsche Banks’s Christiana Riley who is the head of the bank’s US operations, last week slammed last weeks events. She said 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”.
It was reported back in November by Reuters that Deutsche Bank was looking for ways to end its relationship with Trump after the US elections. The reasoning given for this was the negative publicity stemming from the ties. It would appear that this move is now imminent.
[give_form id=”1772″ show_title=”false” show_goal=”false” show_content=”below” display_style=”modal”]
Current Affairs Correspondent | My name is Oliver Down I am 22, and a staunch brexiteer. I am a Bristolian lad who studied politics in Leicester. I believe in free speech and accurate journalism and I won’t be afraid to give you “the other side” of the story!
[sibwp_form id=4]
