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Bangkok Bank Redux

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  • Bangkok Bank Redux

    Thai Banker Makes a $2.7 Billion
    By Chanyaporn Chanjaroen, Lee J Miller, and Suttinee Yuvejwattana
    February 20, 2020, 4:00 AM GMT+7



    Chartsiri Sophonpanich Photographer: Luke Duggleby/Bloomberg
    6:21

    Bangkok Bank PclPT Bank Permata in December is a $2.7 billion
    analysts say$9 billion lender that enjoyed breakneck growth under both his father and grandfather.



    Chin Sophonpanich founded Bangkok Bank in 1944, when he branched


    Chin Sophonpanich in 1982.
    Photographer: Alex Bowie/Getty Images

    When Chartsiri -- known as Tony -- took over as president in 1994, Bangkok Bank had a market capitalization of $8.2 billion, the most $2 billion.



    Kasikornbank Pcl and Siam Commercial Bank PclDBS Group Holdings Ltd. raced ahead via acquisitions.


    The purchase crystallizes an ambition to build a leading regional bank that Chartsiri articulated just after taking over as president.

    Deal Doubts




    Sanford C. Bernstein in Singapore.
    The deal to buy Permata from Standard Chartered Plc and Jakarta-listed PT Astra International still needs approval from Bangkok Bank shareholders and regulators in both Thailand and Indonesia.

    aged




    Chartsiri has a reputation for working into the wee hours of the morning and being more low-key. Educated at the Massachusetts Institute of Technology, he spent time at Citigroup Inc. in New York before joining Bangkok Bank in 1986 and being groomed to take over the family business.










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