Danske Bank blacklists Israel’s Bank Hapoalim

Denmark’s largest bank Danske Bank has blacklisted Israeli Bank Hapoalim because of its involvement in the funding of settlement construction, the danish bank has announced on its website.

Danske Bank cited corporate accountability rules for adding Bank Hapoalim to its list of companies in which the company cannot invest, as the Israeli bank was acting against the rules of international humanitarian law.

The Danish bank has already pulled its investments from Africa Israel Investments and Danya Cebus due to their involvement in settlements construction, Israeli newspaper Haaretz also said.

The news follows that of  Netherlands’ largest pension fund management company, PGGM, which decided to withdraw all its investments from Israel’s five largest banks because they have branches in the West Bank and are involved in financing construction in the settlements.

 

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