Allied Bank


Allied Bank

Infobox_Company
company_name = Allied Banking Corporation
company_
company_type = Private
company_slogan = Your Ally. Your Bank.
foundation = Manila, Philippines (1977)
location = flagicon|Philippines Makati City, Philippines
key_people = Lucio Tan, Chairman
num_employees = unknown
industry = Banking, Finance and Insurance
products = Financial Services
homepage = [http://www.alliedbank.com.ph www.alliedbank.com.ph]
net_income = P1.325 billion PHP (profit4%) (2004) [http://www.alliedbank.com.ph/cms/uploads/Image/a_income.jpg]
:"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 Lifed 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] HistoryAllied 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.

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. [ [http://www.abs-cbnnews.com/topofthehour.aspx?StoryId=101707 AbsCbn, Tan SC victory to spur merger between PNB, Allied bank] ] [ [http://www.supremecourt.gov.ph/jurisprudence/2007/december2007/173553-56.htm Supremecourt.gov.ph, G.R. Nos. 173553-56, PCGG vs. Lucio Tan, First Division, Dec. 7, 2007] ]

ubsidiaries and Affiliates

Allied Bank is divided into the following subsidiaries and affiliates:

Domestic bank affiliates

*Cavite Allied Bank
*Allied Bankers Insurance Corporation
*Allied Leasing and Finance Corporation
*Allied Savings Bank

International bank affiliates

*Allied Bank Philippines (UK)
*Allied Banking Corporation (Hong Kong)
*Allied Commercial Bank
*Allied Forex Corporation
*Oceanic Bank Holdings

Other Affiliate Companies

* [http://www.philippineairlines.com Philippine Airlines]

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

* [http://www.airphils.com/ 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.

* [http://www.pnb.com.ph 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.

* [http://www.fortunetobacco.com/frame.htm 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-sellingbrands include: Hope, Champion, Winston, Salem, Camel, More, Fortune, Boss and others.

* [http://www.tanduay.com 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.

* [http://www.asiabrewery.com 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.

* [http://www.centurypark.com 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.

* [http://www.eton.com.ph 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.

Competition

Allied Bank's main competitors are major Philippine banks like Metrobank, BPI, Equitable PCI Bank, and Land Bank of the Philippines.

References

ee also

*BancNet
*List of banks in the Philippines
*List of Philippine companies

External links

* [http://www.alliedbank.com.ph Allied Bank]


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Allied Bank — (engl. sinngemäß: vereinigte, zusammengeschlossene Banken, Vereinsbank) bezeichnet unterschiedliche Kreditinstitute, u.a.: Allied Bank (vormals Allied Banking Corporation, größte philippinische Bank Allied Bank Limited, pakistanische Bank, gehört …   Deutsch Wikipedia

  • Allied Bank Limited cricket team — are a first class cricket side which compete in Pakistani domestic cricket.Honours* Patrons Trophy(2) * 1981 82 * 1994 95External links* [http://content aus.cricinfo.com/pakistan/content/story/261458.html Cricinfo] …   Wikipedia

  • Allied Bank Limited — Infobox Company company name = company company type = Public company slogan = foundation = as Australasia Bank , 1942 flagicon|PAK Lahore, Pakistan location = flagicon|PAK Lahore, Pakistan key people = num employees = industry = Finance and… …   Wikipedia

  • Allied Bank Plaza — Wells Fargo Plaza …   Deutsch Wikipedia

  • Bank of India — Infobox Company company name = Bank of India company company type = Public (BSE:BOI) foundation = location = key people = industry = Financial Commercial banks num employees = homepage = Bank of India (BoI), established on 7 September, 1906 is a… …   Wikipedia

  • Allied Irish Banks — Rechtsform Public limited company Gründung 1966 Sitz …   Deutsch Wikipedia

  • Bank Zachodni WBK — S.A. Rechtsform Spółka Akcyjna Aktiengesellschaft (Polen) ISIN PLBZ00000044 Grü …   Deutsch Wikipedia

  • Bank Zachodni WBK S.A. — Bank Zachodni WBK S.A. Unternehmensform Aktiengesellschaft Gründung 13. Juni 2001 …   Deutsch Wikipedia

  • Allied Irish Banks — plc Dates clés 1825 : Création Personnages clés Dermot Gleeson, Eugene Sheehy, Peter Sutherland Forme juridique Publique …   Wikipédia en Français

  • Allied Dunbar — is a trading name of the Zurich Financial Services Group and its subsidiary companies Allied Dunbar Assurance plc and Dunbar Bank plc.Setting up its headquarters in Swindon town centre in 1970 under the name Hambro Life , the company expanded its …   Wikipedia