Latest reports show HSBC has dropped all of its shareholdings in Elbit Systems. This comes after the bank dropped over 96% of its shares in the Israeli weapons maker in the previous quarter. HSBC dumping its stock in Elbit Systems follows dozens of actions against its branches in the UK by direct action group ‘People Against Genocide’.
After having a stake in the Israeli weapons company worth over $8million, HSBC sold 15,666 out of 16,317 shares, leaving a holding of only 651 shares, as reported in March 2026. The most recent reports from 30 April 2026 show the bank then proceeded to dump the 651 shares, to fully withdraw all of its investments in Elbit Systems.
HSBC’s full withdrawal of shares in Elbit Systems comes after a sustained direct action campaign against the bank by ‘People Against Genocide. The group first targeted the bank by damaging over 10 HSBC branches on 13 December 2025, over the bank’s investment in Israel’s largest weapons manufacturer.
Similar actions proceeded to take place since, and throughout 2026, until the latest reports came out, showing the bank no longer invests in Elbit Systems. Many of those actions involved throwing red paint over the branches and shattering windows, which forced the temporary closure of many of the targeted branches.
HSBC targeted over reinvestment in Elbit
This direct action campaign was launched as HSBC, who divested from the Israeli weapons firm in 2018, were quietly reinvesting in Elbit Systems. In 2018, HSBC announced it would be divesting from the Israeli arms firm. But it reneged on that decision and, as of November 13th 2025, owned 16,317 shares in Elbit Systems Ltd, valued at $8,318,407 in September 2025.
Not only had HSBC reinvested in weapons production, but it continued to buy more shares, increasing its holdings by 27.22% during the quarter, from 12,826 shares in August 2025.
After HSBC divested 96% of its shareholdings, People Against Genocide vowed to continue their campaign against the bank until it fully divested from the Israeli weapons producer. Reports now suggest the campaign was successful in achieving full divestment from Elbit Systems.
A spokesperson from People Against Genocide said:
HSBC withdrawing all of its investments in the Israeli weapons maker Elbit Systems shows once again that direct action works. Our campaign against the bank was launched in response to the bank quietly reinvesting in Elbit Systems, making it directly involved in the continued genocide against the Palestinian people.
Our message to the bank was clear: any enabling of Elbit’s deadly business will not be tolerated by ordinary people.
Even when the bank had significantly reduced its stake in Elbit Systems, our direct action campaign continued, to demand the bank ends all association with Elbit’s deadly business. HSBC’s withdrawal follows many other firms also making the sensible decision to cut ties with Elbit, rather than face sustained direct action.
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By The Canary
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