Regulatory filings revealed that Scotiabank's asset management subsidiary, 1832 Asset Management, has divested its stake in Israeli defense company Elbit Systems. This move comes after the Canadian bank faced intense criticism over these investments. Canadian activists and politicians had condemned the bank's investments in the Israeli defense firm, arguing they contribute to the conflict and violate human rights. In response to the pressure, the bank decided to exit the investment. The decision was welcomed by critics but raised concerns among some investors. The bank stated that its investment decisions are always based on stringent criteria and risk analysis.
