ABN AMRO Committed to Diamond Industry Clients
October 15, 07
ABN AMRO CEO International Diamond and Jewelry Group (IDJG) Victor van der Kwast affirmed today in his speech at the Antwerp Diamond Conference the bank’s commitment to continuance of its financing in the diamond and jewelry industry. “We are committed to our clients,” he said, “and we are going to be there.”
Kwast described the current situation of the bank as being in a state of transition, much like the industry that it finances. He said that the upcoming takeover is unconditional and “moving very fast.”
A new managing board at ABN AMRO has been convened as of this morning, and it has 45 days to come up with a transitional plan and get a DNB agreement.
Noting that the IDJG will end up under the jurisdiction of either Fortis or RBS, he stressed that, regardless, “nothing fundamentally is changing.”