Type:
Banking & Financial Services
Banks, investment firms, and financial institutions with Israeli exposure
Banks and investment firms provide capital infrastructure for occupation, with funds holding stakes in companies supporting Israeli operations.
- Israeli presence: Major international banks provide services to occupation-connected entities
- ESG scrutiny: Responsible investment frameworks should exclude human rights violators
- Track record: Successful divestment campaigns demonstrate sector vulnerability to pressure
- Leverage: Shareholder advocacy, divestment campaigns, and fiduciary duty arguments
- Action: Research your bank and pension fund exposure, support divestment campaigns
Showing 9 companies in Banking & Financial Services
Priority Target 5 companies
Serious harm, and highly vulnerable to pressure. Start here.
Allianz SE (recently updated)
Europe's largest insurance and asset management group. Named in the UN Special Rapporteur's report of 30 June 2025 (A/HRC/59/23) as holding at least USD 7.3 billion in the companies that report tracks, and as a company whose policies 'underwrite the risks other companies necessarily take when operating in Israel and the occupied Palestinian territory'. Its subsidiary PIMCO is the largest non-Israeli buyer of Israeli sovereign debt issued since October 2023. Allianz ended general insurance cover for Elbit Systems on 1 November 2025; Aspen took on the business.
Banking & Financial Services
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AXA (recently updated)
French insurance group and one of the world's largest institutional asset owners. Named by the UN Special Rapporteur on the occupied Palestinian territory on 30 June 2025 as investing at least USD 4.09 billion in companies tracked in her report, and as an insurer whose policies 'underwrite the risks other companies necessarily take when operating in Israel and the occupied Palestinian territory' (A/HRC/59/23, para. 76). Divested fully from Elbit Systems by the end of 2019 and from five Israeli banks by 24 June 2024 under sustained campaigning, but has never published the policy that governed either decision. AFSC Investigate recorded more than USD 177 million in twelve weapons manufacturers on the BDS divestment shortlist as of 1 May 2026. AXA completed the sale of its asset manager, AXA Investment Managers, to BNP Paribas on 1 July 2025.
Banking & Financial Services
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Barclays PLC (recently updated)
British bank and the most heavily campaigned-against financier of Israel's war in the UK. Research by Profundo for the Palestine Solidarity Campaign, War on Want and Campaign Against Arms Trade found in May 2024 that Barclays held over £2 billion in shares of, and provided £6.1 billion in loans and underwriting to, nine companies whose weapons and military technology have been used in Israel's attacks on Palestinians. Barclays underwrote about $501 million of Israeli government war bonds in November 2023 and January 2024, has not publicly underwritten an Israeli bond since, and remains a primary dealer buying Israeli government debt in domestic auctions. The bank's position is that it does not invest its own money in companies supplying weapons used by Israel in Gaza and trades such shares only on client instruction.
Banking & Financial Services
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BNP Paribas (recently updated)
The European Union's largest bank, and one of the lenders that helped Israel borrow the money to pay for the assault on Gaza. It put $2 billion into an Israeli government bond sale in March 2024, and a UN investigator named it the following year for underwriting the treasury bonds that fund the Israeli state budget. It says that role is now over, though it still buys Israeli government debt at auction. It is also Europe's largest lender to the companies sustaining the occupation.
Banking & Financial Services
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HSBC Holdings plc (recently updated)
UK-headquartered global bank with 3.23 trillion US dollars of assets at 31 December 2025, holding a full Israeli banking licence since 2001. Provided 1 billion euros jointly with Bank Leumi in July 2023 for the Tel Aviv Purple Line light rail, and ranked by Don't Buy Into Occupation V in November 2025 as the fourth largest European creditor to companies linked to Israeli settlements. Divested its Elbit Systems shareholding in 2018, held it again by 2020, rebuilt it through 2025 and exited it in 2026.
Banking & Financial Services
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Target 2 companies
Lower severity, but highly vulnerable to pressure. Momentum builders that shift fastest.
Banco Santander (recently updated)
Europe's largest bank by market capitalisation with 180 million customers across 10+ countries. Provided $8.61 billion in loans to settlement-linked businesses (2020-2023) and $2.225 billion to arms companies exporting weapons to Israel. Rated 'worst' by Ethical Consumer across all Israel-related policies. Procures CyberArk cybersecurity infrastructure from Israel.
Banking & Financial Services
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M&G plc
UK investment and asset manager with over GBP365 billion in assets under management. Both procures and invests in Israeli cybersecurity company CyberArk — deploying its PAM suite for internal security while holding $11.85 million in shares. Controversial weapons policy excludes only banned weapons, not conventional arms sold to Israel.
Banking & Financial Services
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Challenging 2 companies
Serious harm, but low vulnerability. The long game, through investors, pension funds and procurement.
BlackRock, Inc.
World's largest asset manager ($13.5 trillion AUM) holding major stakes in weapons manufacturers and settlement-linked enterprises supplying Israel. Named by UN Special Rapporteur as among the 'main investors' behind Israel's military economy.
Banking & Financial Services
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Vanguard Group
World's second-largest asset manager ($8+ trillion AUM) with significant holdings in defence contractors and companies supplying Israel. Passive index funds create automatic exposure to weapons manufacturers.
Banking & Financial Services
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