KBC sells Antwerp Diamond Bank to Chinese group Yinren

KBC sells it’s Antwerp Diamond Bank (ADB) to the Yinren group, based in Shanghai. Financial details regarding the sale were not disclosed. The brand ADB and the management team will not change and the headquarters remains in Antwerp.

The Antwerp Diamond Bank is the world’s second biggest financial player in the diamond industry. The Yinren group is also active in the diamond sector, next to real estate and trade.

“The fact that the bank can start fresh with a new owner and the headquarters remain in Antwerp, is very good news”, said Pierre De Bosscher, ADB CEO. “Not only for ADB itself, but also for the city of Antwerp and its economical heavy-weight, the Antwerp diamond industry.”