Teh Hong Piow, Public Bank founder passes away at 92

Tan Sri Teh Hong Piow

KUALA LUMPUR: Public Bank Bhd's founder and chairman emeritus, director and adviser Tan Sri Teh Hong Piow has passed away peacefully at 10.20 am today at the age of 92.

Teh was born in Singapore on March 14, 1930, and he attended his formal primary and secondary education at the Anglo Chinese School in Singapore, a biography note on Public Bank's website said.

He has been married to Puan Seri Tay Sock Noy since 1956 and they have four children.

Public Bank's shares declined by 4 sen to RM4.36 at press time. The bank is currently the second largest company listed on Bursa Malaysia with a market capitalisation of RM85bil.

Teh began his banking career in the year 1950 and has 72 years of experience in the banking and finance industry.

He began as a bank clerk in Overseas-Chinese Banking Corporation Ltd in 1950 and rose in rank to officer within five years.

In 1960, he joined Malayan Banking as a manager. Later in 1964, he was promoted to the position of general manager at the young age of 34.

Teh left Malayan Banking in 1966 to set up Public Bank. He has since overseen its evolution into a modern and integrated financial institution with a wide network of 265 domestic and two overseas branches.

On Aug 6, 1966, Public Bank started its business at its first branch located at Jalan Gereja, Kuala Lumpur.

Public Bank was listed on the Kuala Lumpur Stock Exchange (now Bursa Malaysia) on April 6, 1967.

“Teh’s passing is a great loss to the Public Bank Group. On behalf of the board, management, and staff of the Public Bank Group, we extend our most heartfelt condolences and deepest sympathies to Teh’s family,” Public Bank said in a statement.