Banking giant, Deutsch Bank to cut ties with President Trump

U.S. President Donald Trump walks with first lady Melania Trump at Cleveland Hopkins International Airport in Cleveland, Ohio, U.S., September 29, 2020. Picture taken September 29, 2020. REUTERS/Carlos Barria
Deutsch Bank announced that it will cut ties with President Donald Trump following the invasion of the Capitol building.

President Trump leaves Walter Reed Hospital

Deutsch Bank has announced that it will cut ties with President Donald Trump over events related to the raiding of the Capitol by Trump supporters last week.

The German banking giant which has over €1.2 trillion in assets, will also be joined by another lender, Signature Bank, which says it also close accounts held by Trump valued at $5.3 million, in a report released by Bloomberg on Tuesday.

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.”

  • Sources reported that 4 people were killed and 52 people arrested over the attempted storming of the Capitol building by Donald Trump supporters.
  • Twitter permanently suspended U.S President, Donald Trump, citing the risk of further incitement of violence.
  • U.S House Speaker, Nancy Pelosi,  said that the House will move to impeach President Trump, adding that they will only be stopped if Vice President Mike Pence initiates the 25th amendment to remove Trump from his role as President.
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