ABN Amro Bank seeks to open branch in Israel

To review the prospects of opening a branch office in Israel, CEO of ABN Amro Bank International and Diamond Jewelry Group (ID & JG) and senior executives, visited the country, recently. The initiative was taken by Israel Diamond Exchange 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.

According to reports, the Israel Diamond Exchange Managing Director Yair Cohen notes that the industry is currently receiving credit worth around 1.7 billion dollars and the target is set at 3 billion dollars.

ABN AMRO is reputed to be the leading bank for the global diamond industry.