{"id":479616,"date":"2026-02-17T02:02:10","date_gmt":"2026-02-17T02:02:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/479616\/"},"modified":"2026-02-17T02:02:10","modified_gmt":"2026-02-17T02:02:10","slug":"scotiabank-sells-elbit-stake-after-pro-palestine-backlash","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/479616\/","title":{"rendered":"Scotiabank sells Elbit stake after pro-Palestine backlash"},"content":{"rendered":"

Scotiabank’s 1832 Asset Management subsidiary has dissolved its stake in Israeli arms manufacturer Elbit Systems<\/a> ESLT.TA, ESLT.O, regulatory filings showed, after the Canadian<\/a> bank faced sharp criticism for the investment.<\/p>\n

Activists angered over Elbit’s role in supplying military equipment used by Israel during the war with Hamas<\/a> had pressured the Scotiabank BNS.TO investment arm, which at one point was the biggest foreign investor in the weapons maker.<\/p>\n

The investment arm no longer holds shares in Elbit, a change from its reported holding of about 165,000 shares in November, according to the filing with the US Securities and Exchange Commission on Friday.<\/p>\n

The Canadian bank did not immediately respond to a Reuters request for comment on the stake sale.<\/p>\n

Scotiabank’s exposure to the weapons maker had triggered a number of protests at the bank’s branches, Reuters reported in 2023. It had also disrupted Canada’s prestigious Giller Prize Gala, a literary award that was sponsored by Scotiabank.<\/p>\n

The contract between the Giller Prize and Scotiabank ended in February 2025.<\/p>\n

The Defense Ministry said in January that it had signed a multi-year agreement for air munitions with Elbit worth $183 million.<\/p>\n

Elbit reported sharply higher third-quarter profit in November, fueled by sales to Israel’s military during the Israel-Hamas war<\/a> and by\u00a0higher global defense spending.<\/p>\n

US-listed shares of Elbit more than doubled last year.<\/p>\n","protected":false},"excerpt":{"rendered":"Scotiabank’s 1832 Asset Management subsidiary has dissolved its stake in Israeli arms manufacturer Elbit Systems ESLT.TA, ESLT.O, regulatory…\n","protected":false},"author":2,"featured_media":479617,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,176838,194173,1258,2619,11054,194174],"class_list":{"0":"post-479616","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-elbit","12":"tag-elbit-systems","13":"tag-israel","14":"tag-israel-hamas-war","15":"tag-scotiabank","16":"tag-weapons-sales"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/479616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=479616"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/479616\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/479617"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=479616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=479616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=479616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}