European and UK banks are discriminating against defence companies by curbing lending to the sector and “debanking” customers, defence industry leaders claim.
They accuse banks of taking an “activist” stance against defence companies preventing them from opening bank accounts and excluding them from loans, investments and other financial services due to an increased focus on environmental, social and governance criteria, a situation they say is “unacceptable” given a resurgent Russia and increased geopolitical tensions.
