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Aozora Bank to restructure trust operations

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Aozora Bank to restructure trust operations

Aozora Bank Ltd. is planning to transfer the trust operations of unit Aozora Trust Bank Ltd. to the main bank to improve customer service.

The lender said in a March 23 release that this is partly because 70% of Aozora Trust Bank's business is derived from its parent company's corporate customers, which means that boosting the latter's trust operations will lead to better service.

Further, Aozora Trust Bank will develop a non-face-to-face business model, starting with the introduction of internet banking services in July.

The new business structure is expected to start mid-2018 following regulatory approval, Aozora Bank said, adding that it will release more details, such as timeline, when they are finalized.