Deutsche Bank AG is looking to end ties with President Donald Trump after the U.S. elections as it is concerned about the negative publicity it has received due to the relationship, according to Reuters. The bank has about $340 million outstanding loans to the Trump Organization, due in two years, and is personally guaranteed by the president.
- Deutsche Bank- Trump ties won’t be resolved until after the elections, and a Democratic win would make it easier to end the relationship but may delay if Trump wins.
- Deutsche Bank has been dragged into congressional and other investigations, including money laundering, over Trump’s finances and Russian connections, which could heighten if Democrats win.
- Over the years, Deutsche Bank has lent Trump more than $2 billion and is looking to get rid of the last vestiges of the ties.
Deutsche Bank AG stock is gaining. DBK is up 2.34%