In a Facebook post, Anwar conveyed his condolences to the family of the late Teh who passed away today at the age of 92.
“His passing will certainly leave a big void for the Public Bank family, the banking sector and the country.
“I pray for the family of the late Teh to be patient and strong for their loss,” he added.
Teh established Public Bank in 1965 and was appointed as CEO and managing director since the bank’s business commenced on August 6, 1966.
Former Bank Negara Malaysia (BNM) governor Muhammad Ibrahim also paid tribute to Teh, describing him as “a giant within the banking fraternity”.
“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.
In a statement earlier, Public Bank said Teh passed away at 10.20am today.
He relinquished his CEO position and was re-designated as non-executive chairman on July 1, 2002. He retired as non-executive chairman on Dec 31, 2018.
He was named chairman emeritus and adviser of Public Bank on Jan 1, 2019, and remained as a non-executive director, it said.
He dedicated his life to build the bank as a strong banking group in Malaysia in support of the banking and finance industry, the statement said.
“Teh had built a solid foundation and cultivated a strong corporate culture with a resilient business model for the Public Bank Group to continue on a solid growth path while navigating challenges throughout the years.
“On relinquishing his CEO position in 2002, Teh with his visionary foresight, had put in place a clear management succession plan and groomed a strong management team which continued to drive and manage the growth of the group,” it said.
Meanwhile, in a filing with Bursa Malaysia today, LPI Capital Bhd said Teh, who was appointed as its chairman on Sept 27, 1971, had distinctive leadership and vision which enabled the group to gain recognition as a premier insurance group in the region.
“His brilliant guidance and encouragement had driven the success of LPI Group.
“Teh retired from the board of the company’s wholly-owned subsidiary, Lonpac on Jan 8, 2019 and remained as the chairman of the holding company LPI,” it said.