The Deutsche Bank summit was very worried after the US elections that The Trump Organization would default on repaying some $ 340 million in loans during Donald Trump’s presidency. They feared a PR disaster if they had to go after possessions of a acting president.
Bloomberg reports this on the basis of insiders. The management of the financial group, including former CEO John Cryan, reportedly discussed, among other things, the extension of repayment terms until the end of a potential second term for Trump in 2025. This did not happen for unclear reasons.
Deutsche Bank chose not to do new business with Trump and the loans expire in 2023 and 2024 respectively. In the four years before his election, Trump borrowed more than $ 260 million from Deutsche Bank and another party to finance projects in Manhattan, Chicago, Washington, and Miami.
The Trump Organization is a holding company where the business interests of Donald Trump are housed. Deutsche Bank and the White House did not want to respond to the message. Trumps son Eric, a director of The Trump Organization, called the message “complete nonsense”.