Deutsche Bank wants to put an end to Donald Trump

Präsident Donald Trump (Getty)

Deutsche Bank AG reportedly plans to end its relationship with President Donald Trump after the US presidential election in order to stifle negative publicity about its association with the chief developer.

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According to Reuters, Deutsche Bank has approximately $ 340 million outstanding on three loans to the Trump Organization, citing senior bank employees. In total, Deutsche Bank has lent Trump over $ 2 billion.

The loans support Trump’s golf course in Miami, as well as hotels in Washington and Chicago. They are personally guaranteed by the President and are up to date with their payments. The Trump organization has only had to pay interest on the loans so far, and the entire principal is outstanding, two of the three bank officials told Retuers. The loans are due in 2023 and 2024.

The bank began lending to Trump in the late 1990s and has been under scrutiny over investigations into the president’s alleged links with Russia. According to Reuters, a senior executive described these probes in Trump’s business as “serious collateral damage” to the bank.

However, the bank’s plan to sever ties with Trump may depend on the outcome of Tuesday’s election. If Trump loses, Deutsche Bank executives believe the investigation into Trump’s financial records could resume. Bank officials believe that if he cannot repay the loans, it would be easier to request a repayment or to foreclose the property. The bank could also try to sell the loans, according to two of the three bank officials Reuters spoke to.

Deutsche Bank could also seize the president’s assets if he couldn’t repay the loans, as the president personally guarantees the loans.

But if Trump wins, the bank can extend the loans until he leaves office, according to Reuters.

[Reuters] – – Keith Larsen

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