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Allied Bank

For the Pakistan-based bank, see Allied Bank Limited.

Allied Bank, formally known as Allied Banking Corporation, is one of the largest banks in the Philippines, ranking tenth in terms of assets. It is also one of two universal banks in the Philippines not to be traded on the Philippine Stock Exchange, the other being the United Coconut Planters Bank.

History

Allied Bank was incorporated as a bank on April 11, 1977. It was registered with the Bangko Sentral ng Pilipinas on May 12 and opened for business on June 2, all in the same year. Later that year, it was authorized by the Bangko Sentral to operate an expanded foreign currency division and became a universal bank in 1981. A year before that, however, Allied Bank moved its headquarters to its present location at the 14-storey Allied Bank Tower, located on Ayala Avenue in Makati City.

The bank is known for having an expansive foreign presence. In 1978, it established Allied Capital Resources (now Allied Banking Corporation (Hong Kong)) in Hong Kong, and in 1981, became the first bank to syndicate a loan for the Bangko Sentral through its newly-established offshore branch in Bahrain. In 1986, the bank acquired a development bank. The bank was renamed First Allied Savings Bank, which is now Allied Savings Bank. A year later, it expanded its remittance operations in Europe and the Middle East.

In 1989, Allied Bank launched its Automated Teller ATM and became one of the nine founding banks of BancNet on July 17, 1990. It launched its first credit card, a VISA card, in 1992.

Allied Bank was instrumental in the founding of Xiamen Commercial Bank (now Allied Commercial Bank) in 1993, becoming the first Philippine bank to establish a commercial bank in the People's Republic of China. It also opened representative offices in Tokyo, Sydney and Bangkok in 1996, expanding its global reach. Three years later, it acquired Orient Commercial Bank.

To-date, Allied Bank has 283 domestic branches. The bank achieved its present domestic branch network in 2001 with the opening of 21 new branches. A year later, it acquired the Iloilo branch of Standard Chartered Bank's Philippine subsidiary, and opened through Allied Commercial Bank a branch in Chongqing. It also entered the bancassurance arena with the Philippine subsidiary of New York Life d on Ayala Avenue in Makati City.

The bank is known for having an expansive foreign presence. In 1978, it established Allied Capital Resources (now Allied Banking Corporation (Hong Kong) in Hong Kong, and in 1981, became the first bank to syndicate a loan for the Bangko Sentral through its newly-established offshore branch iBahrain. In 1986, the bank acquired a development bank. The bank was renamed First Allied Savings Bank, which is now Allied Savings Bank. A year later, it expanded its remittance operations in Europe and the Middle East.

In 1989, Allied Bank launched its Automated Teller automated teller machine|ATM and became one of the nine founding banks of BancNet on July 17, 1990. It launched its first credit card, a VISA (credit card),VISA card,[edit] History Allied Bank was incorporated as a bank on April 11, 1977. It was registered with the Bangko Sentral ng Pilipinas on May 12 and opened for business on June 2, all in the same year. Later that year, it was authorized by the Bangko Sentral to operate an expanded foreign currency division and became a universal bank in 1981. A year before that, however, Allied Bank moved its headquarters to its present location at the 14-storey Allied Bank Tower, located on Ayala Avenue in Makati City.

In 1989, Allied Bank launched its Automated Teller ATM and became one of the nine founding banks of BancNet on July 17, 1990. It launched its first credit card, a VISA card, in 1992.

On December 7, 2007, the Supreme Court of the Philippines affirmed a judgment dismissing the state's sequestration of Lucio Tan'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 (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

International bank affiliates

Other Affiliate Companies

Philippine Airlines

Known as “Asia’s First Airline”, Philippine Airlines (PAL) is the country’s national flag carrier.

Air Philippines

One of the fastest growing carriers in the country. Since its historic inaugural flight on February 1, 1996 – when it launched its first revenue flights to Subic Bay Freeport, Iloilo City, and Zamboanga City. Air Philippines has likewise been authorized to serve international destinations.

Philippine National Bank

Formed in 1916, Philippine National Bank (PNB) is the fourth largest private local universal bank in the Philippines. Its main thrust is the promotion and development of small and medium agri-based enterprises.

Fortune Tobacco Corporation

The country’s leading cigarette manufacturer, Fortune energized the local tobacco industry and today maintains a large following in the local cigarette market. Its best-selling brands include: Hope, Champion, Winston, Salem, Camel, More, Fortune, Boss and others.

Tanduay Distillers, Inc.

Maker of the world-renowned Tanduay Rhum, Tanduay Distillers is the country’s best bet towards global market leadership. For over 150 years, the company dominates the colored liquor segment in the Philippines and a close second in the global ranking of quality rhum.

Asia Brewery, Inc.

Established in 1982, Asia Brewery is the second largest brewer and bottled water maker in the Philippines. Its best-selling products include: Beer na Beer, Colt 45, Carlsberg, Lone Star (Light & Ultra), Manila Beer, Absolute Distilled Water and Summit Natural Drinking Water.

Century Park Hotel

Throughout its three decades of operation, Century Park Hotel has pursued a tradition of making hotel living a highly pleasurable experience. With its helpful staff, great food, impressive amenities and reasonable rates, it gives its guests a taste of luxurious living at a reasonable cost.

Eton Properties

The global real estate brand of the Lucio Tan Group. Eton Properties Philippines, Inc. is a prestige property development company specializing in high-end and mid-income luxury residences, state-of-the-art IT and BPO office developments, and township projects.