People Against Genocide targets 11 HSBC branches over Elbit investments

People Against Genocide has launched a clandestine network, with a national series of actions against HSBC. HSBC invests in Israel’s biggest weapons producer, Elbit Systems.

In the early hours of Saturday 13 December, groups across Britain conducted operations at 11 locations of Britain’s largest bank, shattering windows and dousing buildings in red paint to symbolise the bloodshed of the Palestinian people.

Actions took place at HSBC branches in: Catford, Lewisham, Ilford, Tottenham Court Road, Fulham, Birmingham, Wokingham, Brighton, Newcastle, Edinburgh, and Glasgow (on 12 December).

HSBC investments

In 2018, HSBC announced it would be divesting from the Israeli arms firm, but has since reneged on that decision. As of 13 November 2025, it owned 16,317 shares in Elbit Systems Ltd, valued at $8,318,407 in September 2025.

Not only has HSBC reinvested in weapons production, but it continues to buy more shares. It increased its holdings by 27.22% during the quarter, from 12,826 shares in August 2025.

HSBC claims to be:

bringing together the people, ideas and capital that drive progress and growth, helping to create a better world.

In fact, says People Against Genocide, it’s bank-rolling an arms company specifically linked to genocide by the United Nations. Elbit markets its weapons as “combat proven“, and its military drones have been directly linked to the deaths of thousands of Palestinian civilians, and specifically targeting children.

The company is currently under suspension from tendering for NATO contracts because of corruption allegations.

Direct Action previously forced Barclays Bank to sell its holdings in Elbit. And groups like People Against Genocide are now using the same tactics against HSBC. The sustained number of actions against Barclays forced the bank to re-think its investment strategy, and sell off its 16,345 shares in Elbit.

A spokesperson for People Against Genocide said:

Despite divesting from Israeli weapons firm Elbit Systems in 2018, HSBC has since amassed millions of dollars worth of Elbit shares right under our noses, cementing its complicity in the ongoing genocide in Gaza and brutal occupation of the West Bank and East Jerusalem.

Banks such as HSBC invest in the production of weapons used to commit genocide as they prioritise their profits over the lives of the Palestinian people. By taking direct action and costing HSBC, we are making investing in genocide unprofitable. It’s now not only the ethical decision, but it’s also financially strategic to pull all shares out of Elbit Systems.

Our actions were taken in solidarity with the Palestinian people, and the prisoners for Palestine hunger strikers, who are calling for Elbit to be shut down. Some are on their 41st day of hunger strike, and their resistance inspires us all to escalate our actions and to shut Elbit down.

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