Deutsche Bank eager to cut Trump ties - sources

As America’s tumultuous election reaches a climax, some bankers thousands of miles away are also hoping for a kind of closure.

Deutsche Bank wants to end its relationship with President Donald Trump once the election is all done.

That’s what three senior officials at the lender have told Reuters.

Deutsche has about 340 million dollars in loans outstanding to the Trump Organization.

The officials say the three loans are against a golf course and two hotels, and come due in a few years.

In all they say the bank has lent Trump more than 2 billion dollars.

And it’s given Deutsche a worsening headache.

The bank has been dragged into congressional and other probes over Trump’s finances.

Senior Democrat lawmaker Elizabeth Warren has previously demanded answers about the bank’s relationship with the Trump family.

She’s told Reuters she will keep pushing for a probe after the election.

One senior executive at the bank says it has suffered ‘serious collateral damage’ as a result of it all.

Trouble is, an exit strategy looks hard to find.

The sources say the bank has mulled selling the loans, but isn’t confident it could find a buyer, given all the attendant baggage.

An election win for the Democrats could prove double edged.

Bank executives fear a renewed probe into Trump’s finances, but also think it might be easier for them to cut ties if he was out of office.

In that scenario they say they might just demand repayment, and foreclose if he can’t pay the loans off.

If Trump wins, any such move could be too explosive.

In that scenario, the bank is probably stuck with the loans - and its headache - until he’s out of office.