The senior executive of the J Trust Group stated that J Trust had done its research and wanted to participate in the process of restructuring weak credit and banking institutions in Vietnam.
At the meeting with deputy prime minister Vuong Dinh Hue on the afternoon of March 29, Senior Executive director of J Trust Group (Japan), Nobiru Adachi, said that J Trust Group participated in the commercial banking, financial retail, and debt collection services across Asia, from Mongolia to Indonesia.
With extensive experience and expertise in supporting struggling financial institutions, the Group has successfully recovered a number of consumer finance companies, acquired and restructured several weak banks in Korea and Indonesia.
Among the three weak banks bought by the government of Vietnam for 0 dong, J Trust expressed interest in participating in restructuring the Construction Commercial One Member Limited Liability Bank (Construction Bank) to become a gateway for cooperation and investment between Vietnamese and Japanese businesses.
Accordingly, the Group will not support only in capital but also technology and professional and wants the government and State Bank of Vietnam (SBV) to create favourable conditions in negotiating and closing transactions.
Deputy prime minister Vuong Dinh Hue highly appreciated the Group’s experience in restructuring credit institutions and considered its plan to be in line with the policy of the government of Vietnam to create conditions for domestic and foreign investors, especially investors with financial and management resources, to buy back and develop weak banks in Vietnam, including Construction Bank.
Deputy prime minister said that the government of Vietnam wants to find a transfer partner or a form of reselling Construction Bank to partners to restructure this bank. The deputy prime minister asked J Trust to study and discuss with Construction Bank and the SBV on the offer. After that, the SBV would submit the offer to the government and prime minister for consideration.
In addition to Construction Bank, the deputy prime minister also welcomed J Trust to participate in the restructuring of other credit institutions in Vietnam.
