Industry Financing Could Change With ABN Merger

British bank Barclays has agreed to buy Dutch bank ABN AMRO, a leading bank for the diamond and jewelry industry, for about 67 billion euros ($91 billion) in what analysts are calling one of the largest bank mergers ever. According to estimates, ABN holds an estimated one-fourth of the diamond industry's financing portfolio and also lends to many jewelry companies. And there is considerable speculation among the diamond trade—and other jewelry industry bankers—that a new, more hard-nosed owner could force it to tighten up credit. Analysts say this could have a ripple effect—and retailers could have less memo and other credit available. As a Dutch bank, ABN has had historic ties to the diamond industry in Amsterdam, the Netherlands, and Antwerp, Belgium. Executives there have long-standing relationships with the jewelry industry, particularly U.S.-based group vice president Anna
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out