ABN Amro Considers Greater Involvement In Diamond Industry
March 12, 03
ABN Amro wants to take a bigger part in the diamond industry, and is now considering financing diamond mining in South Africa. The Antwerp based bank is the main creditor of the diamond industry.
The bank's 11th Global Diamond Conference last week in Antwerp summoned all the regional and country heads of its international diamond and jewelry division to review strategies and position the bank in the changing environment of global consolidation.
Peter Gross, GM of the bank's global diamond division, said financing the full extent of the diamond pipeline was a new commitment and could offer new opportunities. "In addition to the traditional financing of the rough and polished trade, new requirements are seen in jewelry manufacturing and perhaps even in jewelry retailing" Gross said.