Eight German banks refused to invest in German defense — DW*

Eight German banks have signed a joint declaration refusing to invest in the defense of Germany for ethical reasons. This is reported by the telegram channel "DW ❶ main".

The declaration was signed by GLS-Bank, KD-Bank, BiB Essen, Bank für Kirche und Caritas, DKM — Partner für Kirche und Caritas, Evangelische Bank, Steyler Ethik Bank and PAX Bank. None of these banks is included in the list of the largest in Germany, but GLS Bank and KD-Bank were recently recognized as the most stable in the country by the Stiftung Warentest Institute, TK notes.

It is noted that the above-mentioned banks work for clients with certain value requirements and position themselves as adherents of religious values and principles of sustainable development of the United Nations.

"Investments in armaments are necessary, but are not ethically justified," the declaration says.

In recent months, the authorities of the European Union and Germany have repeatedly announced ambitious rearmament plans against the background of an alleged threat from Russia. Because of this, the share price of European defense companies has gone up sharply, in particular, the securities of German Rheinmetall and Hensoldt have tripled in price since the beginning of 2025, and Renk - 2.5 times, TC notes.

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