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ADB moves Swiss financing activities to Singapore

Antwerp Diamond Bank (ADB) is moving the financing activities of its Geneva-based Banque Credit Suisse to Singapore. ADB declined to respond to various phone calls, but according to a letter sent to clients, the Belgian bank is setting up its regional headquarters in Singapore to support and develop activities in Mumbai, Hong Kong and possible future initiatives in China. The new structures are expected to take effect by mid-August 2008 at the latest, the letter said. Banque Diamantaire Suisse was founded by ADB in 1982 and offers financing of diamond and jewellery transactions and private banking services. ADB is fully-owned by KBC, the largest Belgian bank.

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