Finance companies

Banks Supporting Elbit Systems

In 2021, BMO Harris loaned US$90 million to Elbit Systems of America, part of a half-billion-dollar loan from six banks: BMO Harris, Wells Fargo, Bank of America, BNP Paribas, Capital One, and Regions Bank. Elbit, a company linked to human rights violations, produces weapons and surveillance technology used by the Israeli military. Despite global pressure, these banks continue to support Elbit, highlighting their ties to military-linked companies.

Banks Investing in Israel's Defense Industry

In July 2017, War on Want reported that UK banks held over £10.8 billion in shares of companies supplying arms to Israel, including BAE Systems, Boeing, and Lockheed Martin. Banks like Barclays, HSBC, Lloyds, and RBS also provided loans to these companies. The Co-operative Bank was the only major UK bank not involved. The report led to protests targeting HSBC. Caterpillar was one company identified for supplying equipment used in demolitions and military actions against Palestinians, including the killing of activist Rachel Corrie in 2003.

Visa

Visa has made a strategic investment and partnership with Israeli fintech company ChargeAfter. Through this partnership, ChargeAfter’s software will be offered to Visa’s global banks and customers.

AXA

AXA is an international French investment, retirement, and insurance company.In 2016, the Stop AXA Assistance to Israeli Apartheid campaign targeted AXA for its investments in Israeli banks and Elbit Systems, both involved in illegal settlements and war crimes. AXA held shares in major Israeli banks like Bank Hapoalim, Bank Leumi, and Mizrahi Tefahot, and in Elbit Systems.
By 2020, the UN Human Rights Council listed these banks as involved in illegal settlements. AXA sold its shares in Elbit Systems in 2018 and most of its shares in Equitable Holdings in 2021.
Research shows AXA continued investing in companies linked to Israeli settlements. As of February 2024, AXA still holds $2.6 million in shares of Bank Hapoalim.

Belfius Bank

Former Israeli Attorney General Michael Ben-Yair called for the cessation of investments in Israeli settlements, while Belfius continued these investments through Candriam. In 2021, Belfius invested over 300 million euros in the Israeli settlement industry. Companies like Siemens, Solvay, and Caterpillar are part of these investments, involving the exploitation of Palestinian lands and the construction of illegal settlements.

Denizbank

Denizbank is a Turkish bank and part of Zorlu Holding. Zorlu Holding meets 7% of its annual energy needs through partnerships in Israel involving power plants and energy investments. The company has stakes in three different power generation facilities in Israel.

Mastercard

Mastercard has partnered with Italian energy multinational Enel X to open the FinSec Innovation Lab in Beersheba, Israel, focusing on working with early-stage Israeli startups developing FinTech and cybersecurity solutions for the payments and energy sectors. The lab will focus on areas like API security, ransomware, digital identity, and authentication. Israel is a key player in cybersecurity, having signed a new information-sharing agreement with the U.S.