ABN AMRO Considering Israeli Branch

Top executives from ABN AMRO explored the possibility of opening a branch office. ABN AMRO accounts for approximately 25% of the global diamond industry's financing
 
Top executives from ABN AMRO visited Israel recently in order to explore the possibility of opening a branch office.
 
The initiative for the visit was taken by Israel Diamond Exchange (IDE) President Avi Paz, who noted that ‘the addition of a bank of the size of ABN AMRO to the arena of financing the Israeli Diamond Industry would be a significant positive development and can be expected to lead to a profound increase in the financing of the industry’, as reported.
 
Paz added that “Bringing ABN AMRO’s international diamond and jewelry group to Israel would be one of the most important and significant economic measures in recent years for the diamond industry."
 
ABN AMRO accounts for approximately 25% of the global diamond industry's financing. ABN AMRO is reputed to be the leading bank for the global diamond industry.
 
According to reports, the Israel Diamond Exchange Managing Director Yair Cohen noted that the industry is currently receiving credit worth around US$1.7 billion and the target is set at US$3 billion.