The plans adopted by the two banks would be comparable to the drastic restructuring measures adopted by U.S. commercial banks in the latter half of the 1980s and in the early 1990s to solve their management problems. Second, both banks plan to withdraw from overseas operations. Nippon Credit Bank subsequently announced an agreement on business collaboration with Bankers Trust of the United States.
BIS Review 61/1997  -5We at the Bank are strongly encouraged by these initiatives because they indicate a significant shift from the conventional strategy pursued to date by major Japanese banks, and will contribute significantly to the smooth implementation of the two banks’ restructuring packages.