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).

[citation needed] 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.

[3] After becoming a controlling shareholder, J Trust supported some internal improvements at the bank and group consolidation.

At The Extraordinary General Meeting of Shareholders dated 30 March 2015, the meeting approved the re-branding of Bank Mutiara to be J Trust Bank to be inline with other J Trust Group corporate identities in Japan, South Korea, and Singapore.