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DEUTSCHE BANK

Deutsche Bank set ‘to cut ties with Trump’

Deutsche Bank will cease its longstanding relationship with outgoing US president Donald Trump, The New York Times reported on Tuesday.

Published: 13 January 2021 09:01 CET
Deutsche Bank set 'to cut ties with Trump'
Deutsche Bank's headquarters in Frankfurt. Photo: DPA

Deutsche Bank was Trump's primary lender for two decades, and he owes the institution more than $300 million, according to the newspaper, which cited an unnamed source as saying the German lender “has decided not to do business with Mr. Trump or his company in the future.”

Deutsche Bank declined to comment to AFP.

The move comes on the heels of last week's violent attack on the US Capitol by Trump supporters at the president's incitement, and follows steps taken by other companies to cut ties with Trump and his businesses.

READ ALSO: Trump under investigation for Deutsche Bank ties

Christiana Riley, head of Deutsche Bank's US division, called the violent
siege on the Capital “a dark day for America and our democracy” 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,” Riley said.

“It is my hope that these shocking events will result in a reinvigoration
of the principles our nation was built upon.”

Trump's relationship with Deutsche Bank has sparked numerous probes in the United States, including in New York, where the Manhattan District Attorney is investigating whether Trump committed financial crimes as he sought loans.

READ ALSO: 'Worlds between us': What Trump's German family's town thinks of him today

Member comments

  1. What, are they have ‘Morals’ now? Where were their morals when they thought it was ok to help a paedophile launder his filthy ‘Clinton Cash’. Disgusting. No standards.

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ANGELA MERKEL

Merkel finds Twitter suspension of Trump account ‘problematic’

Chancellor Angela Merkel believes that the decision by social media giants to permanently suspend Donald Trump's accounts is problematic because freedom of opinion should not be determined by such online platform bosses, her spokesman said Monday.

Published: 11 January 2021 13:12 CET
Merkel finds Twitter suspension of Trump account 'problematic'
Photo: DPA

“The fundamental right to freedom of opinion is a fundamental right of elementary importance, and this fundamental right can be interfered with, but through the law and within the framework defined by the legislature, not according to the decision of the management of social media platforms,” said Merkel's spokesman, Steffen Seibert.

“From this point of view, the chancellor considers it problematic that the accounts of the US president have been permanently blocked.”

He said that lies or incitement to violence were also “very problematic”, but that the path to dealing with them should be for the state to draw up a legal regulatory framework.

Completely blocking out views by halting the account is a step too far, the spokesman said, but added that he backed action taken by social media in recent months to flag false claims.

Merkel had said she was “furious and saddened” by the storming of the US Capitol by Trump's supporters.

READ ALSO: Merkel joins German politicians in calling out US Capitol mob

She had also accused Trump of stoking the unrest by refusing to concede election defeat to Joe Biden.

Twitter on Friday shut down Trump's account to prevent another attack on the Capitol building.

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