Bangkok Bank and Permata Bank join forces to support Thai businesses seeking strong and sustainable growth opportunities in Indonesia’s high potential market
July 02, 2025
Bangkok Bank and Permata Bank, a member of the Bangkok Bank Group, organized a forum to explore opportunities in Indonesia, Southeast Asia's largest economy that has ambitions to become the world's fourth largest economy by 2045. Working together, both banks are committed to supporting Thai investors throughout their investment journey in Indonesia through Permata Bank's extensive domestic network of more than 200 branches which support retail customers, Indonesian businesses, and international companies investing in the country. This event reinforces Bangkok Bank’s role as a ‘leading regional bank’ connecting business opportunities for strong and sustainable growth.
Bangkok Bank President Mr. Chartsiri Sophonpanich said that Indonesia is a country with high economic and social potential. Its GDP per capita has grown from USD 3,370 in 2015 to USD 4,980 in 2024, reflecting rising national wealth and making Indonesia an attractive destination for investors. Bangkok Bank is ready to support Thai entrepreneurs investing in Indonesia by using our experience of working in the country, sharing local insights, and providing access to our extensive banking network. As one of the first Thai companies to invest in Indonesia in 1968, the Bank asserted our confidence in Indonesia's potential by investing USD 2.3 billion in Permata Bank in 2020, the largest intra-ASEAN banking acquisition in history. As a result, Permata Bank has become one of the top 10 banks in Indonesia, with a network of more than 200 branches covering retail customers, domestic businesses, and international corporate clients investing in Indonesia.
"Bangkok Bank has always believed in Indonesia’s potential. Over the years, we have accumulated deep knowledge and understanding of the country and built a strong local network, while also encouraging other Thai companies to recognize the opportunities in Indonesia by sharing our experience and successes. Today, business operations are influenced by four major forces: climate change, technology and innovation, geopolitical and economic volatility, and the relocation of production bases along with the reversal of globalization trends. Additionally, the policies of major economies are contributing to global economic uncertainty. Despite these forces we believe ASEAN continues to serve as a center of stability and Thailand and Indonesia, as two of the region’s largest economies, play a vital role in creating stable and sustainable opportunities. By collaborating we not only mitigate the impact of global economic shifts, we also connect investors with opportunities across Southeast Asia and other regions," added Mr. Chartsiri.
Permata Bank President Director Ms. Meliza M. Rusli said that Indonesia is a country rich in natural resources and home to a population of 281 million people, 68% of whom are of working age. These attributes positively contribute to the country’s economic and social development, driving the nation forward, and will enable the implementation of the Indonesian government's “Golden Indonesia 2045” strategy to become the world’s fourth largest economy by 2045 by focusing on driving green economy projects, large-scale infrastructure investment, and digital technology projects. The Indonesian government is also proactively attracting foreign investment by implementing new legal frameworks and incentives, and improving the country’s infrastructure to make it more business-friendly. Permata Bank is fully committed to empowering clients and partners from across the region to seize these opportunities by providing comprehensive financial services and products. We also offer in-depth advisory with support from our network of over 240 branches across 82 major cities in Indonesia, ensuring smooth business operations for all our clients.
"Bangkok Bank and Permata Bank are ready to leverage their network, services, and local expertise to provide advisory support and facilitate trade and investment into Indonesia. This is especially relevant for high-potential industries such as the food and beverage sector, which has a market value exceeding USD 280 billion. At the same time, Thai seasoning products and ingredients are very popular among Indonesian consumers and rank among the top imports. This presents a significant opportunity for Thai entrepreneurs to expand their market presence and trade activities in Indonesia," said Ms. Rusli.
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