But the bank will still be forced to deal with the Trump family and their employee for some time to come with outstanding loans of more than $300 million yet to be repaid.
The decision by the German bank follows a glut of social media companies and other firms who are suspending links with the president following last week's rally to the Capitol which left five people dead in the mayhem and aftermath.
Deutsche Bank AG will not do any further business with Trump or his company, although Trump still owes the German lender more than $300 million in loans. Pictured the headquarters of Deutsche Bank in Frankfurt, Germany
In November, Deutsche Bank said that Trump's longtime banker had resigned.
Rosemary Vrablic, an employee in the private banking division, oversaw the approval of hundreds of millions of dollars in loans to Trump's company over several years.
The relationship meant the bank came under pressure from lawmakers and prosecutors looking for information during Trump's presidency.
As of November, Deutsche Bank had about $340 million in loans outstanding to the Trump Organization, currently overseen by his two eldest sons according to Bloomberg.
The money comprises of three loans which are against Trump properties and start coming due in two years. The loans are current on payments and personally guaranteed by the president, according to two bank officials.
In November, Deutsche Bank said that Trump's longtime banker had resigned. Rosemary Vrablic, an employee in the private banking division, oversaw the approval of hundreds of millions of dollars in loans to Trump's company over several years. Vrablic is pictured with the president's son-in-law Jared Kushner
The loans, which are against Trump's golf course in Miami, and hotels in Washington and Chicago, are such that the Trump Organization has only had to pay interest on them so far, and the entire principal is outstanding. They come due in 2023 and 2024, the filings show.Insurance Loans Mortgage Attorney Credit Lawyer
But the businesses backing the loans are currently facing challenges.
The coronavirus-driven economic slowdown has hit the travel industry, including hotels.
In October, Trump's plan to make money by developing houses and hotels on his golf courses, including one involving the Deutsche Bank loan, has not panned out so far.
Deutsche Bank executives are said to not be unduly concerned about Trump's ability to repay the loans, given the president's personal guarantees and the time left before they come due.
Nevertheless, in meetings in recent months, a Deutsche Bank management committee that oversees reputational and other risks for the lender in the Americas region has discussed ways in which it could rid the bank the relationship.
Over the years, the bank has lent Trump more than $2 billion.
Various ideas have been put forward to speed up the cutting of ties with one being