Madrid, Spain, May 4 2011
SETEM also reveals that 14 Spanish banks,
among them BBVA, Santander and Bankia, invested almost 2 billion € in 19 major
manufacturers of controversial arms that cause thousands of civilian deaths
around the world. Among those highlighted are chemical and biological weapons,
cluster bombs and anti-personnel mines.
SETEM has confirmed this morning in the presentation of their new
campaign "Banca Limpia" (Clean Banking) that the cluster bombs MAT-120 manufactured by the Spanish company Instalaza
in 2007 and used by Gaddafi to bomb Misrata in Libya, were financed by at least 8 Spanish banks: Cajalón (Grupo Caja
Rural), Caja España, Caja Mediterráneo, Bankinter, Ibercaja, Banco Popular,
Sabadell and La Caixa.
The confirmation of this news triggered the presentation in Spain of the report
"Dirty Business: Spanish banks that finance controversial weapons" that
confirms that from 2006 to the present, 14
Spanish banks have been financially
and economically involved in 19 of the leading manufacturers of controversial
weapons that cause hundreds of thousands of civilian deaths worldwide.
Amongst these are nuclear weapons, depleted uranium and banned weapons such as
chemical and biological weapons, cluster bombs and anti-personnel mines. The
report highlights that:
• BBVA is the most active Spanish
bank in financing companies which manufacture controversial arms. Investment
funds managed by BBVA include shares of 12 companies and bonds of 2 companies.
BBVA has lent to 8 companies since early 2006 and has helped 3 companies in the
issue of bonds and another in the issue of shares..
• Santander occupies the second place in the financing of controversial arms producers,
with investment funds that include shares in 13 companies, has provided loans
to 7 companies and has issued bonds for 3 companies.
• BANKIA (Financial and Savings
Bank, the central body of the SIP formed by Caja Madrid, Bancaja, Caja Segovia, Caja Avila,
Caja Rioja, Caixa Laietana and Caja Insular de Canarias) have investment funds
that include shares of 8 producers of controversial weapons and has granted a
loan to a controversial arms producer.
The other Spanish institutions involved in the manufacture of controversial
weapons are: Banco Sabadell, Bankinter, BBK, Ibercaja, MAPFRE, Banco Madrid, Banco Popular,
CatalunyaCaixa, Banco Pastor, Finanduero and Banca March.
The report was prepared exclusively for SETEM by Profundo and can be downloaded at www.bancalimpia.com, the website where
anyone can find out about dodgy
investments of their bank, send a
letter to the banks requesting the withdrawal of this support, share this information on social
networks and financially support the