Thai tycoon's $2.7b bid for Bank Permata seen as move to secure family legacy

Bangkok, Thailand. Photo by Jakob Owens on Unsplash

For Thailand’s oldest banking family, it’s a legacy-defining deal 25 years in the making.

That’s how long Chartsiri Sophonpanich has been waiting to turn Bangkok Bank Pcl into a key regional player in Southeast Asia. His winning takeover bid for Indonesia’s PT Bank Permata in December is a $2.7 billion bet that now is the time to jettison decades of caution and secure his family’s legacy for a fourth generation.

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