Allied Bank

Topics: Bank, Asset, Banking Pages: 16 (4203 words) Published: January 6, 2014

Allied Bank is the first Muslim bank, to have been established on the territory that became Pakistan. Established in December 1942 as the Australasia Bank at Lahore with a paid-up share capital of Rs. 0.12 million under the Chairmanship of Khawaja Bashir Bux. Australasia Bank (1947- 1974)

Australasia Bank was the only fully functional Muslim Bank on Pakistan territory on August the 14th; 1947. At the time of independence all the branches in India were closed down. New Branches were opened. The Bank played an important role in maintaining consumer supplies during riot affected early months of 1948. Allied Bank (1974- 1991)

1974, the Board of Directors of Australasia Bank was dissolved and was renamed Allied Bank. The first year was highly successful. 116 new branches were opened during 1974 and the Bank started participating in the Government`s spot procurement agriculture program. Those seventeen years saw a rapid growth for the Bank. Branches increased from 353-748 in 1991.  Allied Bank (1991-2004)

As a result of privatization in September 1991, Allied Bank entered a new phase, and became the world’s first bank to be owned and managed by its employees. In 1993 the “First Allied Bank Modaraba” (FABM) was floated. In August 2004, the Bank`s ownership was transferred to a consortium comprising Ibrahim Leasing Limited and Ibrahim Group. Allied Bank (2005-onward)

In May 2005, Ibrahim Leasing Limited dissolved and the company was vested into Allied Bank Limited. All the shareholders were issued ABL shares instead of the all shares held by them. ABL was formally listed and the Bank`s share trading began on the following dates: ·      Islamabad Stock Exchange8th August 2005

·       Lahore Stock Exchange10th August 2005
·      Karachi Stock Exchange17th August 2005
Today, all Allied Bank Limited shareholders can trade in the Bank`s shares at their will. Vision
“To become a dynamic and efficient bank providing integrated solutions in order to be the first choice bank for the customers”. Mission
To provide value added services to our Customers.
To provide high tech innovative solutions to meet customers’ requirements. To create sustainable value through growth, efficiency and diversity for all stakeholders. To provide a challenging work environment and reward-dedicated team members according to their abilities and performance. To play a proactive role in contributing towards the society.

ABL’s Core Values
Excellence in Service
High Performance
Innovation and Growth

Awards & Recognitions

“Bank of the Year in Pakistan – 2011″ By The Banker

“Best Retail Bank in Pakistan – 2011″ By The Asian Banker

“Best Domestic Investment Bank in Pakistan – 2009″ By The Asset Magazine Hong Kong

Assets of Allied Bank Limited Pakistan

Cash and balances with treasury and other banks
It the amount placed with SBP in order to fulfill the requirement of banking company’s ordinance, 1962. As every bank is obligatory to have its account in SBP and place a specific amount of its deposits there. ABL also has accounts with many other banks as all banks have. It’s the amount for inter bank transactions and it is the asset of a bank. Lending to financial institutions:

ABL lends money to different commercial banks and saving banks .And this amount is the asset of bank as those institutions are obligatory to pay this amount back to the bank after a specific period of time. Investments:

As other banks, ABL also invests in different kind of businesses and do diversification to compensate the loss it can face in a case when a particular business defaults. It invests heavy amount in big corporations to earn higher profit in the form of interest .It invests in variety of projects to have a larger return. Advances:

ABL provides different type of advances and loans to its customers. As it gives consumer loans, real estate loans and commercial loans to facilitate the customers. The...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay about Commercial Banks
  • Essay about Sources and Uses of Funds of Foreign Banks
  • What are bank and non-bank financial institution, compare them briefly and explain each of them. Essay
  • The Characteristics of Bank Essay
  • Essay on Bank Disintermediation
  • Evaluation of Bank Essay
  • Commercial Bank Essay
  • Types of Bank Accounts Essay

Become a StudyMode Member

Sign Up - It's Free