Allied Bank Limited started its operations in Lahore by the name Australasia Bank before independence in 1942; upon nationalization in 1974, it was merged with 3 other banks and the name was changed to Allied Bank of Pakistan Limited. In August 2004, SBP under Scheme of Reconstruction transferred its ownership to a consortium of Ibrahim Group; consequently the new management renamed the entity as Allied Bank Limited in 2005. Ibrahim Holdings (Private) Limited is the parent company of the Bank & its registered office is in Pakistan.
Through a team of over 11,000 staff members Allied Bank offers full suite of banking products and services through a large network of 1,150 (Conventional:1,071; Islamic:77; Overseas:1; EPZ:1) online branches in over 475 cities and towns along with representative offices in UAE and China. The Bank also have vast network of 1,150 ATMs in more than 250 cities and towns across Pakistan with 942 on-site and 208 off-site ATMs.
Products and Services:
Allied Bank Limited (the Bank) offers a wide range of products and services, designed to cater to requirements of each segment of its customer base, ranging from a simple bank account to more sophisticated banking products including:
- Allied Asaan Account – to cater the banking needs of unbanked population
- Allied Khanum Assan Account – for women’s economic empowerment
- Allied Business Account – for growing businesses
- Allied Express Account – crafted for remitting money in Pakistan.
- Allied Rising Star – for inculcating saving habits amongst children
- PayPak Cards – ATM transactions as well as retail/purchase anywhere within Pakistan without dependence on international payment systems
- SME financing – Tractor, Agriculture, Poultry and allied activities
- Corporate & Investment Banking –financing needs of corporate clients
- Islamic Banking – Current, Saving, Investment and financing products
- SMS and Internet Banking
Acknowledging the sound business and governance performance, Pakistan Credit Rating Agency (PACRA) maintained the long-term rating of Allied Bank at “AA+” and short term rating at “A1+”. During 2016, JCR-VIS Credit Rating Company Limited upgraded Your Bank’s Corporate Governance rating to “CGR-9+” indicating very high level of corporate governance. Sound financial and governance standards have been recognized locally and internationally through various awards and accolades.