The family business of US President Donald Trump is suffering as foreign and US banks cut off business ties with him, after the riots that broke out on January 6 in the US Congress building.
As reported by Business Insider, “Professional Bank” based in Coral Gables, Florida refused to cooperate with the companies of the current US president, following “Deutsche Bank” and “Signature Bank”.
According to the newspaper, the bank said it would terminate business relations with Trump immediately and that it does not intend to do business with his business organizations in the future.
Riots in the Capitol
In addition, according to The Wall Street Journal, the large real estate firm Vornado Realty Trust, which co-owns skyscrapers in New York and San Francisco with Trump, has decided to suspend refinancing plans for the two projects.
As the Wall Street Journal explained, one of the reasons was “riots in the Capitol, after which many creditors became much more careful in their contacts with the Trump family.”
Distancing yourself from the president
Bloomberg reported on Tuesday that “Deutsche Bank” and “Signature Bank” decided to leave the cooperation with Trump after the events on January 6 in Washington.
This information was also confirmed by The Wall Street Journal. According to his sources, “Deutsche Bank” is trying to distance itself from the president’s business and is unlikely to provide him with new loans.