Follow-up on the wind down of Antwerp Diamond Bank

AWDC is aware of the impact of the closing down of the Antwerp Diamond Bank. Sound and reliable financing are a critical factor for a successful diamond trade in Antwerp. AWDC is making all possible efforts to guarantee a sustainable solution.

The divestiture of the Antwerp Diamond Bank in 2008 was a precondition for KBC to receive state aid. AWDC has been following this crucial dossier for our sector for some time and now that the wind down has begun, we are in constant consultation with ADB. As a result, a number of safeguards have been obtained.

The wind-down will consist of various phases, the impact of which will vary from customer to customer. AWDC will inform the sector concerning the state of play of this crucial matter.

Given the confidentiality obligations of banks with respect to their clients, AWDC cannot intervene in individual cases. AWDC has, however, ensured that a number of agreed principles will be guaranteed:

• For those with loans at ADB:

o Each client will be invited to an individual conversation with his ADB account manager, where a tailored plan will be worked out concerning the loan settlement. The client may propose his or her own settlement plan.

• For those who only have an account at ADB, and are not a borrower:

o  In case you have an alternative account at another bank, you will be asked to gradually phase out your account by 31 December 2014. The continuity of your trading activities will therefore not be compromised.

o In case you do not have an alternative account at another bank, you will be able to keep your account until after 31 December 2014, until an alternative one has been found. This way, the continuity of your trading activities will not be compromised.

AWDC is making all possible efforts to find a sustainable solution within an as short as possible time frame, so that on the one hand SMEs have the necessary protection and perspectives for the future, and on the other hand have sufficient alternatives to finance their business.

For general questions concerning the closure of the Antwerp Diamond Bank, please feel free to contact AWDC:

- Mr. Najib Bardid, Legal & Compliance Officer (naba@awdc.be – 03/222 05 06) OR
- Ms. Trissia Stavropoulos, Head Legal & Compliance (trst@awdc.be – 03/222 05 03)

For specific questions concerning your personal file at ADB, we advise you to contact ADB directly.

DISCLAIMER:  This information is provided on the basis of oral agreements between AWDC and KBC that were laid down on 30 September 2014. AWDC cannot be held responsible for any decision with respect to or for the treatment of your personal file.