Deutsche Bank, Germany’s largest bank, shows signs of mild embarrassment in the wake of reports that it had consigned Israel’s largest bank, Bank Hapoalim, to a list of firms deemed too “ethically questionable” for investment by the ostensibly more ethically-minded investors.
Bank Hapoalim indeed featured on the list but Deutsche Bank later averred that this was merely a recommendation by an outside consultant from Denmark.
It needs be stressed that the actual damage to Bank Hapoalim is likely to be minimal at most. If anything, the impact on Deutsche Bank’s image would be more acute. It goes beyond the mere specter of a German financial giant boycotting a Jewish concern. Deutsche bank has a particularly dark past, even as far as veteran German corporations go. Continue reading