Belgian-French banking group to sell its Israeli branch following pressure over West Bank activities
by: EJPUpdated: 13/May/2011 11:50
Earlier this year, Yesha, the umbrella organization of municipal councils of Jewish settlements in the West Bank, accused Dexia’s decision to no longer finance Israeli settlements as a result of months-long campaign in Belgium, supported by NGO’s, political parties, local authorities, trade unions and other organisations.

BRUSSELS (EJP)---Belgian-French banking and financial group Dexia has decided to sale its Israeli branch following a campaign from pro-Palestinian groups and pressure from shareholders criticizing the lending activities for Jewish settlements in the West Bank.

The decision to cede the branch was confirmed this week by Dexia’s President Jean-Luc Dehaene at the group’s annual shareholders meeting in Brussels.
The bank is specialized in lending to municipalities and local authorities.
During the meeting Dehaene and Dexia’s CEO Pierre Mariani were assaulted with critical questions over the bank’s Israeli activities.
Dehaene, a former Belgian Prime Minister, admitted that the bank has been extending loans to municipalities but said that since September 2008, there has been no additional financing.
“In the past, Dexia Israel granted 5 million euros of loans to the settlements, this was only 1% of the total budget of Dexia Israel. The loans to the Jerusalem municipality are not included in this amount, as Dexia Group feels that Jerusalem is not contested territory," he said.
Earlier this year, Yesha, the umbrella organization of municipal councils in the West Bank, denounced Dexia’s decision to no longer finance Israeli settlements as a result of months-long campaign in Belgium, supported by NGO’s, political parties, local authorities, trade unions and other organisations.
In 2001 Dexia Group bought the Israeli bank Otzar Hashilton Hamekomi and renamed it Dexia Public Finance Israel.