Denmark’s largest bank is boycotting an Israeli financial institution over its work in the West Bank.

Danske Bank announced the move late last month, saying Israel’s Bank Hapoalim is involved in “construction activities in conflict with international humanitarian law.”


Similarly, three years ago Danske Bank also cited Israeli building in the West Bank as cause to quit ties with Africa Israel and Danya Cebus. Also in 2010, the bank cut work with Elbit, a Haifa-based defense contractor, over its alleged involvement in “supplying electronic equipment in conflict with human rights norms.”

In total, the Denmark bank has boycotted 33 firms. Four are Israeli.

“What they are really doing is playing with politics, and not, as they say, worrying about moral values or violations of international norms,” said Israel’s ambassador to Denmark, Arthur Avnonhe, to news site

Meanwhile, Nordea Bank, Sweden’s largest banking institution, has also demanded that Israeli banks Leumi and Mizrahi-Tefahot make public its dealings in the West Bank.

The US has already responded to the news, with State Department deputy spokeswoman Marie Harf saying, “Boycotts directed against Israel are unhelpful, and we oppose them.”