Banks| Policies| Dodgy Deals| Campaigns
About us| Blog| Publications| Successes| Contact us| Donate
About BankTrack
Visit us
Organisation
Our team
Our board
Guiding principles
Team up with us
Join our Active Allies list
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2021-02-24 00:00:00
Protect the climate but finance Total?
2021-02-16 00:00:00
Oil and gas financiers are staring down the barrel at $1 trillion in losses: time to rein in support for new pipelines
2021-02-11 00:00:00
Beefing up risk: the exposure of JBS’ financiers to financial, regulatory and reputational risks
2021-01-25 00:00:00
Why should banks support EU mandatory human rights and environmental due diligence?
2020-09-24 12:53:20
Oscislowo open-pit coal mine cancelled
2020-09-08 13:07:41
Strengthened OECD guidance on responsible banking
2020-02-25 10:35:27
JPMorgan Chase Coal and Arctic Policy a step forward but fails to match its climate responsibility as the world’s #1 Fossil Bank
2020-02-18 17:27:23
Civil society groups welcome Royal Bank of Scotland preparing to exit fossil fuels
Connect
2021-03-24 00:00:00
Banking on Climate Chaos 2021
2021-03-22 00:00:00
BankTrack Annual Report 2020
2021-02-01 00:00:00
Banking on Thin Ice
2020-11-30 00:00:00
Soft Commitments, Hard Lessons: an analysis of the Soft Commodities Compact
2020-11-24 00:00:00
"Trust Us, We're Equator Banks": Part II
2020-11-18 00:00:00
Crude Risk: Risks to banks and investors from the East African Crude Oil Pipeline
See all publications
Browse
Home
Banks
Dodgy Deals
Map
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook page
Twitter channel
Home › News
Cluster bombs manufactured in Spain in 2007 and used by Gaddafi to bomb Misrata were financed by Spanish banks
Cajalón, Caja España, Caja Mediterráneo, Bankinter, Ibercaja, Banco Popular, Banco Sabadell and La Caixa involved
Start
Banks

By: SETEM
2011-05-04
Madrid, Spain

Contact:

Marta Isabel González Álvarez
Communications Officer - SETEM Ethical Finance
migonzalez@setem.org  Tfno. 91 549 91 28 Ext. 30 

 


Share this page:

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 campaign.

 

Related banks

Banco Santander Brazil

active

Bankia Spain

active

BBVA Spain

active

CaixaBank Spain

active
Browse
Home
Banks
Dodgy Deals
Map
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook page
Twitter channel
Vismarkt 15
6511 VJ Nijmegen
The Netherlands

Tel: +31 24 324 9220
Contact@banktrack.org
©2016 BankTrack                Webdesign by BankTrack and EASYmind
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted