Chatri leaves mark as banking leading light
CHATRI Sophonpanich, who has died aged 85, will be remembered as one of the most influential figures in Thailand’s banking industry.
The chairman of Bangkok Bank died of natural causes in Bumrungrad Hospital, his family announced on Sunday.
Chatri was credited with building on the legacy of his father Chin Sophonpanich in further expanding the bank’s business. Both are regarded as key players behind the rise of Thai industries.
Chatri was the second son of Chin, who founded Bangkok Bank, which became the largest commercial bank in Thailand and one of the largest banks in the Asean region. He was born on February 28, 1933, in Thailand.
He was educated in Hong Kong at the Kwang Tai High Accountancy College and furthered his studies at the Regent Street Polytechnic in London and the Institute of Bankers in England. He received an honorary degree in law from Pepperdine University in Los Angeles.
He began work at Bangkok Bank in 1959 as an assistant manager responsible for accountancy and moved up to accountant manager in 1962. He was promoted to the post of president in 1980. In addition to this post, he was named the bank’s chairman in 1992. Chatri became an adviser to the executive board of Bangkok Bank in 1999. He was the chairman of the bank until his death. His son Chartsiri is currently the president of the bank.
Bangkok Bank, under Chin, was known as one of the first domestic banks to enable the rise of domestic industries, such as sugar production, offering companies long-term financing. Chatri built on this father’s work and further expanded the banking business of Bangkok Bank at home and abroad.
The bank, along with other Thai lenders, was buffetted by the Asian financial crisis in 1997. It had to raise funds to shore up its liquidity. Although many banks and finance companies collapsed during that period, Bangkok Bank emerged from the crisis in good shape and steadily regained its strength.
Reflecting his standing in the industry, Chatri had been appointed chairman of the Thai Bankers’ Association for three years. He was also an honorary adviser to The Federation of Thai Industries.
Chatri had been pronounced dead at 8pm on Sunday at Bumrungrad Hospital, his family said. His Majesty King Maha Vajiralongkorn yesterday granted the honour of a royal bathing ceremony for Chatri.
Prayers are being offered at the Holy Redeemer Church in Soi Ruam Rudee in Bangkok at 7pm every day until July 1, in accordance with Catholic tradition for the funeral service.
The burial will be on July 2 at the Catholic cemetery of St Nikolaus Church in Pattaya, Chon Buri province.
