Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
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,
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
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
Events & AwardsJul 13, 2026
Registration Opens for JIS Fall 2026 ShowThe annual trade-only buying event is slated for Oct. 16-19 in Miami Beach, Florida.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 13, 2026
AGTA Accepting Entries for Spectrum 2026AGTA also has announced the lineup of judges for the colored gemstone cutting and jewelry design contest’s various categories.
Weekly QuizJul 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
SourcingJul 10, 2026
CFO of De Beers’ Consumer-Facing Division Leaves Company Shaun Wills joined the company in 2024 and was chief financial officer of the De Beers Brands and Consumer Markets division.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
AuctionsJul 09, 2026
Pharrell Williams’ Joopiter Hires Former Bonhams Exec to Head New Watch DivisionNate Borgelt will lead the digital auction house and content platform’s new division as head of watches.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
Events & AwardsJul 09, 2026
AGS, GIA Name 2026 Beatrice Shipley Scholarship WinnerAGS also announced the recipient of its “Women in Leadership” scholarship.
SurveysJul 08, 2026
Signet Jewelers Falls 5 Spots on NRF’s ‘Top 100’ Retailers ListPlus, why retailers should be ready to adjust as the U.S. population may decline this year for the first time since the Great Depression.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
ColumnistsJul 07, 2026
Peter Smith: Diamond Branding and the Origin ParadoxA podcast prompted Smith to share his views on where origin fits into the natural diamond story and the viability of branded diamonds.
Events & AwardsJul 07, 2026
JA Announces 2026 Impact Initiative RecipientsThe association selected eight recipients for the funding program, which is in its second year.
TrendsJul 07, 2026
Amanda’s Style File: Ruby, White and Blue Whether celebrating America’s 250th birthday or the USA’s World Cup run, July birthstone jewelry can double as a patriotic accessory.
CrimeJul 07, 2026
Thieves Steal Millions in Jewels From France’s Musée LaliqueAround 20 pieces of jewelry were stolen from the museum dedicated to French jeweler and glassmaker René Lalique.
CollectionsJul 07, 2026
Robinson Pelham Is Partying Like It’s 1996The “Summer of ’96” campaign and collection celebrate the year the brand was founded for its 30th anniversary.
SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
