For the Pakistan

Pakistan

Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...

-based bank, see Allied Bank Limited

Allied Bank Limited

Allied Bank with its Registered Offices in Karachi and Lahore is one of the largest banks within the country with 805 Branches connected to an online network. It was the first Muslim Bank Established in Pakistan before Partition with the name of Australasia Bank...

.

Allied Bank, formally known as Allied Banking Corporation, is one of the largest bank

Bank

A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...

s in the Philippines

Philippines

The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...

, ranking tenth in terms of assets. It is also one of two universal bank

Universal bank

A universal bank participates in many kinds of banking activities and is both a commercial bank and an investment bank.The concept is most relevant in the United Kingdom and the United States, where historically there was a distinction drawn between pure investment banks and commercial banks. In...

s in the Philippines not to be traded on the Philippine Stock Exchange

Philippine Stock Exchange

The Philippine Stock Exchange is the national stock exchange of the Philippines. It is one of the oldest stock exchanges in Southeast Asia, having been in continuous operation since its inception in 1927...

, the other being the United Coconut Planters Bank

United Coconut Planters Bank

The United Coconut Planters Bank, more popularly known by its initials, UCPB, or by its old name, Cocobank, is one of the largest banks in the Philippines, ranking within the top twenty banks in the Philippines in terms of assets. The bank, owing to its name, caters heavily to coconut farmers, but...

.

History

Allied Bank was incorporated under the laws of the Republic of the Philippines on April 11, 1977, and granted by the Central Bank of the Philippines the Certificate of Authority to operate as a commercial bank on May 20, 1977. It was formally opened for business on June 2, 1977. On August 19, 1977, it was authorized to operate an expanded foreign currency deposit unit (FCDU) and in December 1981 granted to operate as expanded commercial bank or universal bank.

As of December 31, 2007, Allied Bank was the 9th largest private domestic commercial bank in the country in terms of total deposits, and the 10th largest in terms of net worth..

Aside from its 283 domestic branches/offices, Allied Bank has 2 off-shore (OBU) branches in Bahrain and Guam; wholly owned subsidiary in the United Kingdom (Allied Bank (UK) Plc); a majority owned subsidiary in Hong Kong (Allied Banking Corporation (Hong Kong), Ltd.); a majority owned commercial bank subsidiary in Xiamen, Fujian Province, People's Republic of China (Allied Commercial Bank), and an affiliate commercial bank based in San Francisco, California, USA with a branch in Guam (Oceanic Bank). Representative offices were established in Australia, Germany, Italy, Japan, Singapore and Spain.

In the Philippines, the universal banking group of Allied Bank includes a wholly owned savings bank, the Allied Savings Bank, wholly owned Allied Forex Corp. and an affiliate Allied Leasing and Finance Corporation.

On December 7, 2007, the Supreme Court of the Philippines

Supreme Court of the Philippines

The Supreme Court of the Philippines is the Philippines' highest judicial court, as well as the court of last resort. The court consists of 14 Associate Justices and 1 Chief Justice...

 affirmed a judgment dismissing the state's sequestration of Lucio Tan

Lucio Tan

Lucio Tan is a prominent Chinese Filipino business magnate and is one of the most prominent business magnates in the Philippines...

's companies: "There can be no question that indeed, petitioner's (the government's) orders of sequestration are void and have no legal effect." The landmark decision would trigger a planned between Philippine National Bank

Philippine National Bank

The Philippine National Bank is one of the largest banks in the Philippines, ranking fourth in terms of assets...

 (PNB) and another Tan's Allied Banking Corporation. Edgar Bancod, research head, ATR-Kim Eng Securities, stated that the merged bank would become the country's 4th biggest after Metropolitan Bank & Trust Co., Banco de Oro-EPCI Inc., and Bank of the Philippine Islands.

Subsidiaries and Affiliates

Allied Bank is divided into the following subsidiaries and affiliates:

Domestic bank affiliates

• Allied Bankers Insurance Corporation
• Allied Leasing and Finance Corporation
• Allied Savings Bank

International bank affiliates

• Allied Bank Philippines (UK) Plc
• Allied Banking Corporation (Hong Kong) Ltd.
• Allied Commercial Bank
• Oceanic Bank
  Oceanic bank
  Oceanic Bank International, commonly referred to as Oceanic Bank, is a bank in Nigeria. Oceanic provides individual, commercial and corporate banking services. -History:...
  
  

Competition

Allied Bank's main competitors are major Philippine banks like Metrobank

Metropolitan Bank and Trust Company

The Metropolitan Bank and Trust Company , commonly known as Metrobank. It has a diverse offering of financial services, from regular banking to insurance. Metrobank is the second largest bank in the Philippines.-History:...

, BPI

Bank of the Philippine Islands

Bank of the Philippine Islands is the oldest bank in the Philippines still in operation and is the country's third largest bank in terms of assets, the country's largest bank in terms of market capitalization, and the country's most profitable bank...

, Banco de Oro, and Land Bank of the Philippines

Land Bank of the Philippines

Land Bank of the Philippines , also known as LANDBANK or by its initials, LBP, is a bank in the Philippines owned by the Philippine government with a special focus on serving the needs of farmers and fishermen...