Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Antwerp Diamond Bank's Profit -31%, Interest Income +13%

19 june 2014

The Antwerp Diamond Bank (ADB), a subsidiary of the KBC Bank, reported that its balance sheet fell 7 percent year on year to $2.4 billion (EUR 1.692 billion) in 2013. A selective credit issuing policy during the year held the bank's number of debtors stable, and global net interest income rose almost 13 percent year on year to $73 million (EUR 52.9 million), while interest income from debtors accounted for $69 million (EUR 49.8 million) as a result of increased margins in the second half of 2013.  Profit fell 31 percent to $7.9 million (EUR 5.703 million). The bank stated that it encountered an adverse impact of $11 million (EUR 8 million) for closing its New York office during the period, Rapaport reports.
ADB confirmed a capital adequacy ratio of 11.29 percent during the year, compared with 10.05 percent in 2012. The bank added that there was "subdued growth" across the world's economy during the year, with high unemployment rates worldwide, fiscal tightening in the U.S. and Europe, political gridlock in the US and stricter Chinese government policies weighing on consumer luxury spending.  As a result of those factors, the diamond supply chain suffered a disconnect between (too high) rough diamond prices against relatively stable polished prices.
During the fourth quarter of 2013, progress was made regarding the divestment of ADB from KBC, with a potential new shareholder, Jiangsu Yinren Group Company Ltd.. The transaction is pending and subject to approval, according to ADB.