Commerzbank exits anti-Israel BDS bank in Germany

Commerzbank has closed its anti-Israel BDS (Boycott, Divestment and Sanctions) bank account in Germany after facing potential divestment from American states for anti-Semetic conduct. While the bank's move has been praised by Israel's Public Security Minister, it is also likely to open Commerzbank up to political scrutiny for its actions, including scrutiny of its past relationships. The consequences of involvement with a BDS fund is yet unknown, while protesters vow to expose BDS-supporting banks and hold them accountable.

JNS.org – Germany’s second-largest bank, Commerzbank, has reportedly closed an account affiliated with the anti-Israel Boycott, Divestment and Sanctions (BDS) movement.

The Jerusalem Post, citing a “highly reliable source,” reported that the bank notified the account holder of the closure more than a month ago. This is the first known instance of a German bank censuring a pro-BDS account.

Commerzbank spokesman Michael Machauer said the bank could not identify the account holder nor discuss the closure “because of data protection and bank secrecy laws.” But theJerusalem Post’s report raised the possibility that the account belongs to the pro-BDS website “Der Semit,” which lists its account as being based in a small town in the German state of Hesse. Commerzbank’s headquarters are located in Frankfurt, the largest city in Hesse.

Israeli Public Security Minister, Gilad Erdan said Commerzbank’s decision was “the right thing to do.”

“The BDS campaign, which seeks the destruction of Israel, is discriminatory, anti-Semitic, and anti-peace, and often has connections to extremist and terrorist groups,” Erdan told the Jerusalem Post. “I call on other banks to follow Commerzbank’s example, particularly those with connections to official state bodies which claim to oppose BDS. I will continue to work to expose the true face of the BDS extremists and their supporters, and to ensure that they face the full consequences of their actions.”