Germany's Deutsche Bank has announced the end of trade relations with the outgoing US President Donald Trump and his company. Although Deutsche Bank has not yet issued an official statement, the reports say the bank will no longer do business with him.
Deutsche Bank is a major source of credit for Trump's company. Therefore, the decision of the bank to close its business is likely to have a major impact on Trump's business. Twitter, Professional Golfers Association, also has recently broken up with him.
Deutsche Bank played an important role in building the Trump Brand.
Deutsche Bank is a major source of borrowing for Trump's company. Therefore, the decision of the bank to close its business is likely to have a big impact on Trump's business.
When Trump went bankrupt in the 1990s, Deutsche Bank helped him out with a loan. Trump will have to repay the 340 million debt to the bank within a few years.
Another bank, Signature Bank, said it would close two private accounts belonging to the Trump group.