PT Bank JTrust Indonesia Tbk[1] (idx: BCIC) is an Indonesian bank founded in 2015. The bank is based in Jakarta.
History
J Trust Co., Ltd. (J Trust), a holding company with the global scope of operations is located in Toranomon First Garden, 1-7-12 Toranomon, Minato-ku, Tokyo 105-0001. The company was selected as the winner among 11 applicants in the divestment of Bank Mutiara (formerly Bank Century, which was subject of a controversial bailout in 2008)[2] which previously was under the control of the Indonesia Deposit Insurance Corporation (LPS).
After management restructuring as well as other recovery efforts, the bank was divested by LPS to J Trust Co., Ltd. The number of shares transferred at the time was 99% which was in compliance with the approval letter from The Indonesia Financial Services Authority (OJK) dated 20 November 2014 with value of Rp. 4.41 Trillion and Price to Book Value of around 3.5 times.[3]
After becoming a controlling shareholder, J Trust supported some internal improvements at the bank and group consolidation.