For the first time in the last 25 years the Antwerp Diamond Bank (ADB), the fully owned subsidiary of the KBC Bank that exclusively caters for the diamond and diamond jewelry trade and industry, has closed the fiscal year with a negative result.

In line with luxury industry trends, its balance sheet total shrank by 24% to 1.3 billion Euro (US$1.65 billion) and reflects the contraction of the economic activity within the diamond and diamond jewelry industry in particular, explains the bank.

With a consolidated capital adequacy ratio of 14.6% the bank is well poised to execute its business plan for 2010 and 2011, and the ADB management is fully confident that the bank will return to positive results in 2010.