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Antwerp Diamond Bank's Profit +152% in 2012

Price Pressures Impact Industry Margins
May 21, 2013 10:31 AM   By Jeff Miller
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RAPAPORT... The Antwerp Diamond Bank (ADB), a subsidiary of KBC Bank, released financial highlights for 2012, stating that higher margins, especially in the Indian marketplace, helped to boost interest income  10 percent, while operating profit jumped 11 percent and net profit surged 152 percent. ADB confirmed a tier 1 capital ratio of 10.05 percent, noting that it ''amply meets'' international norms, notwithstanding a stricter calculation method.

In its annual market summary, ADB stated that  2012  was a ''less eventful'' period compared with a volatile 2011; nonetheless, it remained a  difficult year for the diamond and jewelry industry. ADB noted an unstable business climate across Asia and price imbalances between rough and polished diamonds, which negatively impacted the profitability of manufacturers.

Given the difficult economic environment, ADB stated that it applied a conservative and selective credit policy aimed at optimal allocation of capital and improved quality of the credit portfolio.

ADB's controls resulted in a 7 percent year on year balanced growth of advances and limited write-offs on its portfolio. On account of capital efficiency as well as optimizing the treasury management and other assets, the bank's balance sheet remained stable, according to the lender.

Tags: Antwerp Diamond Bank, balance, Jeff Miller, lending, profit
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