On Monday, as he left the White House for a trip to Utah, Trump restated his sympathy for Flynn and his assertion that prosecutors should have pursued action against his general election rival, Hillary Clinton.
Handelsblatt reported that the subpoena arrived "a few weeks ago", and that the most important files relevant to the request have already been sent to Mueller's team. No subpoena has been issued or received.
"We have confirmed that the news reports that the Special Counsel had subpoenaed financial records relating to the president are false", lawyer Jay Sekulow said in a statement.
He says he's confirmed "this with the bank and other sources".
Although limited in detail, the spending report offers the first insight into the scope and scale of Mueller's investigation, which has resulted so far in criminal charges against four people who worked on Trump's presidential campaign.
Deutsche Bank for months has rebuffed calls by Democratic lawmakers to provide more transparency over the roughly $300 million Trump owed to the bank for his real estate dealings prior to becoming president.
Deutsche Bank has been one of the few major banks willing to regularly lend to Trump, who alienated large banks in NY with his past financial troubles.
VEB, as well as the Russian Agricultural Bank and Gazprombank, did not immediately reply to emailed requests for comment.
Interested in Russia Investigation? "The investigation would surely continue, though perhaps with someone who doesn't think his job includes protecting the FBI and Mr. (James) Comey from answering questions about their role in the 2016 election".
Trump has a history of dealings with Deutsche Bank during his career as a NY property mogul, and his businesses owed it around United States dollars 300 million in July 2016, according to a Bloomberg analysis.
The CNN and Post reports followed weekend tweets that sparked questions about what the president knew about Mr. Flynn's truthfulness, any contacts with the Russians and when the president knew it. Mr. Flynn was a fixture on the Trump campaign trail.
Mr Trump sued the bank and other lenders in 2008, demanding $US3 billion ($3.9 billion) in damages, claiming they broke agreements in the construction and financing of a Chicago hotel.