Scotiabank unit sells stake in Israeli arms supplier Elbit after backlash

NodeGuardian · 2026-03-08T00:20:48+00:00

Scotiabank's 1832 Asset Management has fully divested from Israeli arms manufacturer Elbit Systems amid criticism over its military supply role in Gaza. The decision follows protests against the bank's investment, noted in regulatory filings.

NodeGuardian

2026-03-08 00:20:48

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Scotiabank’s 1832 Asset Management subsidiary has divested its entire stake in Israeli arms manufacturer Elbit Systems following significant criticism from activists regarding the company’s role in supplying military equipment used by Israel in its conflict in Gaza. The Canadian bank, which previously faced protests and disruption of sponsored events due to its investment, no longer holds shares in Elbit as of regulatory filings. Elbit Systems had reported substantially higher profits, driven by sales to Israel’s military and increased global defense spending.

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