BBL agreed in December to buy an 89.12% stake in Indonesia's PT Bank Permata. PATIPAT JANTHONGBangkok Bank (BBL) expects to make payment for its acquisition of Indonesia's PT Bank Permata in the third quarter this year. BBL in December last year entered into a conditional share purchase agreement to buy an 89.12% stake in Indonesia's PT Bank Permata in a deal worth US$2.7 billion (81.3 billion baht) from the UK-based Standard Chartered Bank, making the largest purchase of an overseas lender by a Thai bank. BBL plans to conduct a tender offer for the remaining stake later. It plans to focus on wholesale banking rather than SME and retail banking.

Source: Bangkok Post January 13, 2020 23:26 UTC