Report 66: «Armed banking and its joint responsibility in the gaza genocide. The financing of companies that manufacture arms used in the massacres against the Palestinian people»

The report «Armed banking and its joint responsibility in the gaza genocide. The financing of companies that manufacture arms used in the massacres against the Palestinian people» focuses in trade between banks and arms companies that are profiting from the Israel offensive on Gaza. We identify and report the connections between arms exports from various countries to Israel in recent years, the companies that manufacture these arms, and the banks that finance them. Therefore, we coin the term “armed banking” and genocide, appealing to the responsibility of financial institutions in investing in companies that produce arms used by the Israeli Army in Gaza and across Palestinian territories. Israel is systematically committing crimes against humanity with these arms. According to experts and research from the International Criminal Court, these crimes could even be considered genocide.

Specifically, we have identified up to 12 Spanish financial institutions, among them Santander, BBVA and CaixaBank, and other Spanish banks such as Ibercaja, Banco Caminos and Banca March, who have invested in seven of the 15 analized companies that provide arms and ammunition to Israel: Boeing, Day & Zimmerman, General Dynamics, Oshkosh Corp, Leonardo, Rheinmetall and MTU Friedrichshafen. Of these financial institutions, Santander and BBVA are the main banks financing companies manufacturing arms used by the Israeli military to commit the genocide in Gaza, with over $2.442 and $15 billion, respectively.

Read and download the executive summary in English, in Spanish and in Catalan and the full report in English, in Spanish and in Catalan.

Authors: Gemma Amorós, Eduardo Aragón, Jordi Calvo, Max Carbonell and Lucía Ibáñez