Allied Bank Limited
Basic information
- Head office
- Lahore, Pakistan
- Chief executive
- Muhammad Atif Mirza
- Employees (non-consolidated)
- Employees (consolidated)
- Start date
- 1942-01-01
- End date
Websites
Business
Related companies
| Company name | Group | Parent | Subsidiary | Customer | Supplier | Alliance | Bank | Shareholder |
|---|---|---|---|---|---|---|---|---|
| ABL Exchange (Private) Limited | ||||||||
| ABL Funds | ||||||||
| Allied Islamic Aitebar Banking | ||||||||
| SBP Sunwai | ||||||||
|
|
||||||||
| Ibrahim Group |
Network
History
Established as a commercial bank.
Founded as Australasia Bank in Lahore. On 3 December 1942, Australasia Bank opens for business in Lahore as one of the first commercial banks established by Muslim entrepreneurs in pre-Partition British India.
Continues operations in newly-independent Pakistan. After the Partition of India, Australasia Bank continues to operate from Lahore as part of the newly-formed Pakistani banking system.
Nationalised and renamed Allied Bank of Pakistan. Under the Banks (Nationalization) Act 1974, the bank is consolidated with Sarhad Bank, Lahore Commercial Bank and others to form Allied Bank of Pakistan.
First Pakistani bank to be privatised. Allied Bank becomes the first bank in Pakistan to be privatised, through an Employee Stock Ownership Plan that transferred shares to the bank's employees.
Ibrahim Group acquires majority stake. The Ibrahim Group, led by Mohammad Naeem Mukhtar, acquires the controlling shareholding from the employee group, marking the beginning of a major modernisation programme.
Renamed Allied Bank Limited.
Allied is an active participant in the State Bank's Asaan Account framework, which has brought millions of previously unbanked Pakistanis into the formal banking system since 2015.
News
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