Antwerp Diamond Bank new ofice inaugurated in Mumbai
The inauguration was followed by a meeting with both well---established and fast emerging diamond companies that ADB is servicing in Antwerp and Mumbai.
The unveiling of a plaque was attended by HRH Princess Astrid of Belgium, Representative of his Majesty the King, HE Didier Reynders, Federal Deputy Prime Minister and Minister of Foreign Affairs, Foreign Trade and European Affairs, and HE Kris Peeters, Minister-President of the Government of Flanders, Flemish Minister for Economy, Foreign Policy, Agriculture and Rural Policy.
In his welcoming speech Mr. Pierre De Bosscher underlined that “after the 10th anniversary celebration of the Branch opening in October 2012, this inauguration in presence of dignitaries from Belgium and India mark s again a milestone in our commitment to the Indian diamond community”.
The Branch of Antwerp Diamond Bank in Mumbai has recently moved from the earlier diamond quarter Opera House to the new Bandra Kurla Complex, a fast developing commercial complex in the suburbs of Mumbai. The Bank follows the movement of the diamond community that started occupying the Bharat Diamond Bourse (‘BDB’) at BKC from October 2010 onwards. This Bourse houses close to 2,500 offices for individual traders, exporters, brokers and people connected with the diamond trade. BDB’s main objective is to promote and export diamonds from India while further developing an international trading centre for gems and jewellery.ADB is located on the 5th floor of the Trade Centre building at BKC, close to BDB.
Antwerp Diamond Bank is the only bank in the world that exclusively caters for the diamond and diamond jewellery trade and industry, already for more than 75 years. The offered bank services are based on a solid know---how of the diamond business.
In Mumbai, ADB lends its banking services and grants commercial credits to diamond cutting and polishing factories and exporters since June 2001. Mr. Karl De Borger, CEO of the local Branch of ADB in Mumbai, added that “the maiden Branch of ADB in Mumbai is acting in a very competitive banking environment but despite this, it is capitalizing on its strengths and maintaining its position as a leading and innovating diamond bank”.
The inauguration was followed by a meeting with both well established and fast emerging diamond companies that ADB is servicing in Antwerp and Mumbai.The official delegation of Belgium with amongst others Mr.Philip Heylen, Antwerp City Vice---Mayor for Culture, Economy, City and Area Maintenance, Heritage and Liturgy, and Mr.Pieter Timmermans, CEO Federation of Enterprises in Belgium listened to the actual market circumstances for rough and polished diamonds, growth perspectives and business challenges in the Indian diamond market business in an environment where also Antwerp Diamond Bank is implementing more prudent norms due to higher regulations with greater focus on capital adequacy and asset quality.
Get Top 500 Company Research from acclaimed IIFL Research Team...Click Here!!!
India Infoline Research Team / 10:47, Aug 24, 2015
In spite of massive improvement in CV demand, standalone revenues for Banco Products Ltd registered muted performance with sales at Rs. 113cr in Q1 FY16.