KUALA LUMPUR, Dec 12 — Public Bank Bhd founder Tan Sri Teh Hong Piow, who died today at the age of 92, was a giant within the banking fraternity, said former Bank Negara Malaysia (BNM) governor Tan Sri Muhammad Ibrahim.

"He contributed a lot to the banking industry in terms of expanding products and services and expanding access to credit for the economy,” he told Bernama following news of Teh’s passing today.

In a statement earlier, Public Bank said Teh, who founded the bank in 1965, passed away at 10.20am today.

Teh was appointed chief executive officer (CEO) and managing director since its commencement of business operations on Augist 6, 1966.

He dedicated his life to building the bank into a strong banking group in Malaysia.

Teh relinquished his CEO position and was re-designated as non-executive chairman on July 1, 2002. He retired as non-executive chairman on December 31, 2018.

He was named chairman emeritus and adviser of Public Bank on January 1, 2019, and remained as a non-executive director on the board of Public Bank, it said. — Bernama