SurveysOct 09, 2026
These Will Be the 10 Busiest Days for In-Store Shopping This Holiday SeasonStores should expect to see the most customers on Nov. 27, and Christmas week is expected to be hectic too, as Dec. 25 falls on a Friday.
MajorsAug 11, 2016
Antwerp Diamond Bank to shut down
Yet another bank seems set to exit the jewelry industry, as KBC said Friday that the sale of the Antwerp Diamond Bank to Yinren Group has fallen through and it will, according to its agreement with the European Commission, wind down the bank’s activities.
Brussels--Yet another bank seems set to exit the jewelry industry, as KBC said Friday that the sale of the Antwerp Diamond Bank to Yinren Group has fallen through and it will, according to its agreement with the European Commission, wind down the bank’s activities.
KBC said no new loans will be given by Antwerp Diamond Bank (ADB), a leading financer for the diamond trade, and no new business will be developed as it seeks to absorb ADB’s outstanding loans into KBC Bank NV and, eventually, run down the bank’s loan portfolio and activities. The run-down is subject to approval by the competent authorities.
According to KBC, it is not doing a “collective dismissal” of ADB staff in Belgium but instead will tap a group of ADB staff to handle the wind-down of the bank while deploying other ADB employees elsewhere in the KBC Group. The bank’s offices in Hong Kong, Mumbai, Singapore and Dubai, United Arab Emirates, will be closed by small teams there, and those employees eventually will be laid off. The bank’s office in New York closed earlier this year.
ADB will contact its clients personally with more details on the wind-down in the months ahead, KBC said.
Brussels-based KBC announced in December that it had reached an agreement with Shanghai-based Yinren Group to buy Antwerp Diamond Bank but said Friday that Yinren failed to submit a “comprehensive file” to the National Bank of Belgium, even after receiving a three-month extension on the deadline to make the submission.
Under its agreement with the European Commission, which told the bank it had to sell its subsidiaries after it received aid to keep it afloat in 2008 and 2009, KBC said it had no choice but to shut down the bank. KBC had already received two extensions on its original deadline to divest the bank when it reached an agreement with Yinren late last year.
While KBC is outlining plans to begin the shutdown of ADB, it does seem the bank is holding on to some hope it will find a last-minute buyer, noting in its statement that it will “examine any valid and acceptable proposal that does not lead to any additional financial burden to acquire part or all of the activities of ADB or its loan portfolio.”
KBC noted that it has been trying since 2009 to find a suitable investor for the bank,
Editors' Picks
Sponsored by
speaking with more than 100 interested parties worldwide, but was unable to do so, underscoring an already well-known fact in the diamond and jewelry world: it is not an industry that many banks want to finance. KBC said it turned out to be a “real challenge” to find a buyer for the bank because of its niche in the diamond industry, the daily funding needs specific to a diamond bank and the general economic and market environment.
The eventual likely exit of Antwerp Diamond Bank comes on the heels of Bank Leumi’s decision to shutter its diamond and jewelry portfolio by the end of 2014.
“We regret that a strong brand and a leading player in the diamond banking industry, with a long and rich history, will have to cease operations as a result (of the deal falling through),” KBC Group NV CEO Johan Thijs said.
More on Majors
The Latest
CollectionsOct 09, 2026
Elisa Solomon Collabs With Serendipity 3 on ‘Frozen Hot Chocolate’ CharmThe charm, our Piece of the Week, features brown diamond frozen hot chocolate topped with white diamond whipped cream and a ruby straw.
AuctionsOct 09, 2026
8-Carat Blue Diamond Goes Unsold at UK Jewelry Auction The top lot of Elmwood’s recent fine jewelry sale in London was a 1.84-carat, D color Tiffany & Co. solitaire diamond ring.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
WatchesOct 09, 2026
Movado to Sell Majority Stake in Ebel for $66.5MThe watch company agreed to sell a 95 percent interest to a group comprised of F.P. Journe, Chanel, and Swiss watch exec Pierre Jacques.
Weekly QuizOct 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesOct 08, 2026
Third Wave of IEEPA Tariff Refunds Begins This round of tariff refunds is for importers that have sued over IEEPA tariffs in the Court of International Trade and won.
CollectionsOct 08, 2026
Brent Neale’s New Collection Goes ‘Back to Basics’It revisits the brand’s most requested silhouettes, from "Pillow"-set necklaces and bracelets to "Signature"-set rings and earrings.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
SourcingOct 08, 2026
Ethical Gem Fair Heads Back to BrooklynThe trade-only event includes buying opportunities as well as educational sessions on artisanal mining, the new Paraíba source, and more.
Events & AwardsOct 08, 2026
Pattons Fine Jewelry Sweeps Local Design ContestAra Chanakian, a jeweler at Pattons, took home top honors in every category at Jewelers of Louisiana’s annual jewelry design competition.
AuctionsOct 08, 2026
Reba McEntire’s Jewelry, Watches Head to Julien’s AuctionsThe live charity benefit sale in Nashville will also feature gowns, boots, and other memorabilia from the country music legend.
Supplier BulletinOct 08, 2026
Overnight Mountings’ Bridal Builder Helps Jewelers Turn Custom Design into a Hands-On Selling ExperienceSponsored by Overnight Mountings
Policies & IssuesOct 07, 2026
The Plumb Club Amplifies Its Voice as Geopolitical Pressures MountThe supplier organization recently joined JA and JVC to have more input on political issues affecting the jewelry industry.
CollectionsOct 07, 2026
Blue Nile, Royal Asscher Collection Highlights Natural Diamond BeautyBlue Nile, a Signet Jewelers-owned brand, is now Royal Asscher’s exclusive licensed retailer in North America.
CollectionsOct 07, 2026
4 Standout Pieces in Audemars Piguet’s First High Jewelry Collection “Royal Oak” pays homage to the brand’s most popular watch model using 18-karat gold as well as diamonds, emeralds, and sapphires.
SourcingOct 07, 2026
AGTA Extends Deadline for 2026 Spectrum Awards EntriesParticipants now have until Oct. 14 to complete their submissions.
CrimeOct 06, 2026
6 Charged in Connection to String of New Jersey Smash-and-GrabsThe alleged thieves used crow bars and sledgehammers to smash into jewelry stores across the state.
ColumnistsOct 06, 2026
Sherry Smith: Is the Consumer Really Trading Up?Ahead of the holidays, Smith urges jewelers to take a hard look at who’s buying jewelry, what they’re purchasing, and who’s stopped buying.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
AuctionsOct 05, 2026
The Star Cats of the Sandy Lerner AuctionThese jewels stood out at Bonhams’ sale of the cat-loving tech entrepreneur’s collection of objects depicting the feline form.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
