Bury town centre's Barclays bank branch was smashed and covered in paint overnight.
The branch on Central Street is one of a number of outlets that have been targeted in the region amid protests over Barclays' reported links to Israel.
A police cordon has been in place at The Rock this morning, Monday, following the incident.
Last week, Bolton's Market Street Barclays branch was vandalised in the same way, and the same type of damage has been caused at two outlets in Manchester city centre.
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Campaign group Palestine Action has said it is behind the vandalism of Barclays banks, and are demanding the bank divests from Israel’s weapons trade and fossil fuels.
This morning Monday, the group said they had shattered glass, sprayed paint and stencilled over the facades of around 20 buildings.
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A Palestine Action spokesperson said: "Barclays is funding the crises of climate collapse and genocide in Palestine.
“Decades of polite campaigning, petitions, letter writing and lobbying MPs have failed.
“We will continue to escalate until Barclays pulls it's finger out and stops funding genocide and climate destruction."
A spokesperson for Greater Manchester Police said: "We are investigating two reports of criminal damage from the early hours this morning (Monday 10 June) involving red graffiti over buildings on Central Street, Bury and Bridge Street, Stockport.
"To date, we have made five arrests in relation to eight reports of criminal damage since April where buildings have been targeted with red paint across Greater Manchester.
"This behaviour is totally unacceptable and won’t be tolerated."
Barclays has been approached for a comment.
Last week, a Barclays spokesperson told The Bolton News: “We provide vital financial services to US, UK and European public companies that supply defence products to NATO and its allies.
"Barclays does not directly invest in these companies. The defence sector is fundamental to our national security and the UK government has been clear that supporting defence companies is compatible with ESG considerations.
"Decisions on the implementation of arms embargos to other nations are the job of respective elected governments.
“The safety of our customers, colleagues and local community is our priority and we would ask that those expressing their views stop short of criminal damage to our facilities, which puts people’s safety at risk.”
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