Organization:Defence, Security and Resilience Bank

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Defence, Security and Resilience Bank
AbbreviationDSR Bank
DSRB
TypeInternational financial institution
HeadquartersCanada
Region served
Worldwide
Websitewww.dsrb.org

The Defence, Security and Resilience Bank or DSR Bank is a proposed international financial institution backed by the DSRB Development Group. It aims to help allied countries work jointly to fund defence and security-related investments by providing financial support, such as accessible loans to governments. To be headquartered in Canada, the DSR Bank will seek to encourage private banks to invest more easily in defence companies, with an overall goal of increasing defence capabilities.[1][2]

Overview

The DSR Bank was first proposed in 2025 by Rob Murray, chief executive officer of the DSRB Development Group, who previously led the creation of NATO's Defence Innovation Accelerator for the North Atlantic and the NATO Innovation Fund.[3][4][5] It had the backing of several financial institutions, including the Landesbank Baden-Württemberg, JPMorgan Chase, ING Group, Commerzbank, and Deutsche Bank. Its main focus is supporting European and North American states.[6] The bank considered 40 countries as possible locations for its headquarters.[7][8] The bank received support in the United Kingdom, with members of parliament Alex Baker and Luke Charters publicly supporting its creation.[9][10][11][12][13][14]

Canada has emerged as a major supporter of the bank's creation, with numerous politicians supporting the nation's bid to house the bank. Prime minister Mark Carney gave a speech at the 2026 World Economic Forum in supported of Canada's bid.[15] In January 2026, Canada's finance minister François-Philippe Champagne officially declared the country's support for the bid. In April, Canada was announced as the location to headquarter the bank, with the support of many Canadian financial institutions including the Royal Bank of Canada, Toronto-Dominion Bank, CIBC, Scotiabank, National Bank of Canada, and Bank of Montreal.[16] Many cities in Canada expressed interest in hosting the bank, with Halifax, Toronto, Montreal, Vancouver, and the National Capital Region emerging as bid cities. In January 2026, defence and security firms based in Ottawa, Ontario, and Gatineau, Quebec, stated their support for the city's bid.[17] Ontario premier Doug Ford stated that his provincial government would support Toronto as Canada's bid city, citing its status as a global financial centre and its pre-existing infrastructure.[18][19][20][21][22] The incumbent Government of Quebec and mayor Soraya Martinez Ferrada support Montreal's bid, while British Columbia premier David Eby and mayor Ken Sim support Vancouver's bid. Mayors Mark Sutcliffe and Olivia Chow also endorsed their respective cities bids.[23] No clear timeline has been announced on the host city selection.[24]

References

  1. ↑ "Defence, Security and Resilience Bank (DSRB) Development Group". Trade Treasury Payments. London, UK. 6 January 2026. https://tradetreasurypayments.com/companies/defence-security-and-resilience-bank-dsrb-development-group. 
  2. ↑ Defence, Security and Resilience Bank (DSRB) Development Group. "About". LinkedIn. https://www.linkedin.com/company/defence-security-and-resilience-bank-dsrb-development-group/about/. 
  3. ↑ Norman, Pippa (2026-04-29). "Canada chosen as host country of multinational defence bank". The Globe and Mail. https://www.theglobeandmail.com/business/article-canada-host-multinational-defence-bank/. 
  4. ↑ Chouiekh, Chaimae (2026-03-30). "Canada’s biggest banks get into defence after years of avoiding military financing". The Logic. https://thelogic.co/news/analysis/canada-banks-dsrb-support/. 
  5. ↑ "What is the DSRB". DSR Bank. https://www.dsrb.org/what-is-the-dsrbLeadership. 
  6. ↑ Meddings, Sabah (7 August 2025). "JP Morgan, Commerzbank and ING to Support European Defense Bank". Bloomberg News. https://www.bloomberg.com/news/articles/2025-08-07/jp-morgan-commerzbank-and-ing-to-support-european-defense-bank. 
  7. ↑ "ING backs new defence bank for Europe". August 7, 2025. https://www.ing.com/Newsroom/News/ING-backs-new-defence-bank-for-Europe.htm. 
  8. ↑ "RBC and defence bank partner to meet NATO target". Financial Post. https://financialpost.com/fp-finance/banking/rbc-defence-bank-partner-nato-target. 
  9. ↑ "Britain can lead a new era of defence finance". April 11, 2025. https://www.politicshome.com/opinion/article/britain-lead-new-era-defence-finance. 
  10. ↑ "Client Challenge". https://www.ft.com/content/93d7168b-75a3-41e3-ba5a-4f378b93a709. 
  11. ↑ "Client Challenge". https://www.ft.com/content/a92db3e3-a473-4979-a812-451575fcc575?accessToken=zwAGM5dKaguwkdOpLbPjpHNJedOoEkUVdfzFdQ.MEYCIQD_bdmRkUDOwqD_CqbkVRNFwhuafl4Pkwh-gNaBfUUs1QIhAN0NylZ5yXmUHfjeeWzPmmhmKYX14M5cyvPYWo0WwGsL&sharetype=gift&token=30213b19-dfde-4779-b4ef-53b1d603df57. 
  12. ↑ "Europe's defense awakening needs a second engine". May 26, 2025. https://www.politico.eu/article/europe-defense-safe-billion-arms-war/. 
  13. ↑ "National Post ePaper". https://epaper.nationalpost.com/article/281646786086923. 
  14. ↑ Diver, Tony (May 21, 2025). "Starmer and EU to arm West with new global defence bank". The Telegraph. https://www.telegraph.co.uk/politics/2025/05/21/starmer-and-eu-to-arm-west-with-new-global-defence-bank/. 
  15. ↑ Ferguson, Rob (January 24, 2026). "Mark Carney's Davos speech boosts Canada's push to host new defence bank, Toronto supporters say". https://www.thestar.com/politics/provincial/mark-carneys-davos-speech-boosts-canadas-push-to-host-new-defence-bank-toronto-supporters-say/article_0fbf3ab7-1a47-4bce-8ac7-d449efc39258.html. 
  16. ↑ "Ontario Newsroom". https://news.ontario.ca/en/release/1006958/ontario-ready-to-take-bid-to-host-defence-security-and-resilience-bank-to-the-world. 
  17. ↑ Mahler, Cameron (22 January 2026). "Ottawa defence firms back bid to host multinational security bank". CBC News. https://www.cbc.ca/news/canada/ottawa/ottawa-defence-firms-back-bid-to-host-multinational-security-bank-9.7055209. 
  18. ↑ Jeglinskas, Giedrimas (December 11, 2024). "The case for a global defence bank". Fiancial Times. https://www.ft.com/content/064b0685-9003-446d-806a-15015978dfed. 
  19. ↑ "Canada in the running to headquarter new multinational defence bank". The Globe and Mail. November 13, 2025. https://www.theglobeandmail.com/business/economy/article-canada-gdp-nato-defence-spending-defence-security-and-resilience-bank/. 
  20. ↑ "Ontario Launches Bid to Make Toronto Home to Defence, Security and Resilience Bank". Toronto, Ontario: Government of Ontario. 16 December 2025. https://news.ontario.ca/en/release/1006878/ontario-launches-bid-to-make-toronto-home-to-defence-security-and-resilience-bank. 
  21. ↑ Barp, Declan Da (May 8, 2025). "The DSR bank: A new Finance Mechanism for Collective Defence". https://carleton.ca/eetn/2025/the-dsr-bank-a-new-finance-mechanism-for-collective-defence/. 
  22. ↑ Hanson, Isaac (March 12, 2025). "Ex-Nato innovation head launches MDB initiative for defence financing". https://www.gtreview.com/news/global/ex-nato-innovation-head-launches-mdb-to-finance-defence/. 
  23. ↑ "Canada officially endorses leadership role in new defence bank". The Globe and Mail. 30 January 2026. https://www.theglobeandmail.com/business/economy/article-canada-leadership-defence-bank-finance-minister-francois-philippe/. 
  24. ↑ Freeman, Joshua (2025-12-17). "Toronto launching bid to become home of new international Defence, Security and Resilience Bank" (in en). https://www.cp24.com/local/toronto/2025/12/17/toronto-launching-bid-to-become-home-of-new-international-defence-security-and-resilience-bank/. 

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