Age, Biography and Wiki

Krit Ratanarak was born on 19 April, 1949 in Bangkok, Thailand, is a Thai businessman (born 1946). Discover Krit Ratanarak's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 74 years old?

Popular As N/A
Occupation Businessman
Age 74 years old
Zodiac Sign Aries
Born 19 April 1949
Birthday 19 April
Birthplace Bangkok, Thailand
Nationality Thailand

We recommend you to check the complete list of Famous People born on 19 April. He is a member of famous businessman with the age 74 years old group.

Krit Ratanarak Height, Weight & Measurements

At 74 years old, Krit Ratanarak height not available right now. We will update Krit Ratanarak's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
Eye Color Not Available
Hair Color Not Available

Who Is Krit Ratanarak's Wife?

His wife is Srisakul Promphan Chaisakhran Hiranyaphruek

Family
Parents Chuan Ratanarak Sasithorn Ratanarak
Wife Srisakul Promphan Chaisakhran Hiranyaphruek
Sibling Not Available
Children Chachchon Ratanarak

Krit Ratanarak Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Krit Ratanarak worth at the age of 74 years old? Krit Ratanarak’s income source is mostly from being a successful businessman. He is from Thailand. We have estimated Krit Ratanarak's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income businessman

Krit Ratanarak Social Network

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Timeline

1946

Krit Ratanarak (born 19 April 1946) is a Thai-Chinese billionaire businessman, and the chairman of Bangkok Broadcasting & Television Company (operator of Channel 7) and head of one of Thailand's leading family business groups.

He is also a former member of the Thai Senate.

The Ratanarak family have substantial holdings in a number of Thai-based companies including Bank of Ayudhya (branded and commonly referred to as Krungsri Bank) (SET:BAY), Siam City Cement (SET:SCCC), Allianz Ayudhya Capital (SET:AYUD), Matching Maximize Solution (SET:MATCH), Media Studio, Grand Canal Land (SET:GLAND) and Eastern Star Real Estate (SET:ESTAR) as well as holding a majority stake in Bangkok Broadcasting & Television, which operates Thailand's Channel 7.

The group also owns HR Pro Security and Services, one of the largest security firm in Thailand.

Krit Ratanarak was born in 1946, the eldest of six children with five sisters, four of whom now live outside Thailand.

1972

Krit is divorced with one son, Chachchon, born in 1972.

The Ratanarak or Li(in Chinese) family are known to be very private.

Forbes call them "a very secretive clan" and Krit’s son Chachchon has been described as being "influential while staying below the radar".

The Ratanaraks are one of the few remaining ‘old money’ families in Thailand.

Krit is the son of Chuan Ratanarak, who founded Bank of Ayudhya (known today as Krungsri Bank), Siam City Cement (producer of the Insee Cement brand) and Bangkok Broadcasting & Television and was one of Thailand’s last great self-made business Titans.

It is said that Krit inherits the work ethos of his father and prefers to work in privacy, rarely appearing in public and press.

Krit is one of the most successful businessmen in Thailand.

He joined Bank of Ayudhya in 1972, becoming President in 1982 and CEO in 1990.

1981

In 1981, Krit became Thailand’s youngest senator at the age of 35, serving for four terms.

1990

In the late 1990s, Krit navigated Bank of Ayudhya and the other family businesses through the worst of the Asian financial crisis keep in the group intact, the Ratanaraks were one of only 8 business groups that remained in Thailand’s top 40 from 1979 to 2009.

The Ratanarak Group emerged from the crisis with Krit at the head of one of the top five business families in Thailand, and one of three of Thailand’s most powerful banking families along with the Sophonpanich and Lamsam families.

In the years after the crisis Krit strengthened the major family businesses by introducing outside capital and international management expertise.

1993

In 1993, he became Chairman and CEO of the bank, Chairman of BBTV, Chairman of Siam City Cement and Chairman of Ayudhya Insurance.

1996

In 1996 before the crisis, the bank had market capitalisation of US $4 billion and this had risen to US $7 billion in 2014.

1998

Krit recapitalised Siam City Cement in 1998 by selling part of the family’s equity to Holderbank (later to become Holcim).

Contemporary newspaper reports wrongly suggested that the proceeds from the sale of equity to Holderbank was used by the family to recapitalize Bank of Ayudhya.

However, as part of the terms of the sale, the full proceeds received by the family from Holderbank – as well as additional funds from the Ratanarak Group – were reinvested in Siam City Cement via a rights issue to recapitalize the business and the capital injected by the family into the bank came instead from contingency reserves.

In 1998, prior to the deal with Holderbank, the family had controlled slightly more than 50% of the company.

While other banks closed or were nationalized, Krit completed a recapitalization of Bank of Ayudhya, and continued to improve its performance in the post-crisis aftermath.

1999

Holderbank became strategic partner, and in 1999, after completing debt restructuring and refinancing, Siam City Cement increased its capital to 3 billion Baht, and the proceeds were used to upgrade its production facilities and operations.

2007

The family shareholding in the bank was reduced in 2007 from 35% to 25% to comply with a reduction in the maximum permitted holding under new banking regulations which came into force in 2008.

The reduction in ownership was not achieved by a sale of family’s holdings; rather, it was executed as a strategic investment by GE Capital that increased the bank's registered share capital and strengthened its consumer lending business with world-class standards.

The family previously brought in GE Capital in 2007 to enhance banking operations and install best practice.

2012

According to press reports in March 2012, Krit is working to transform the Rama III area of Bangkok into a major commercial centre.

In 2012, the Thai publication ‘Which Family is Richest’ reported the Ratanarak family as having holdings in excess of US$10 billion since 1998 when other assets are included.

2013

In 2013, the Ratanarak family controlled 47% of the equity in Siam City Cement which had a market value of US $3.2 billion and no significant debt with Holcim holding 27.5% of the shares.

Following a change in GE's strategy to reduce their exposure to financial services in 2013, GE Capital sold their holdings to Japan’s Mitsubishi UFJ Financial Group (MUFJ) following losses incurred in the 2008 banking crisis, and a change in strategy by GE to reduce their exposure to financial services.

2014

In 2014, the Ratanarak family controlled 25% of the bank’s equity with the remaining equity held by MUFJ.

Krit's penchant for employing world-class strategic partners is also reflected in the partnership with Germany's Allianz Group in insurance business.

2015

According to Forbes, the Ratanarak family’s holdings in the group businesses in January 2015 were estimated to be worth US$5.4 billion, based on publicly known assets and excludes private assets and property.