1 ALLIED BANK LIMITED Allied Bank Limited was the first bank to be established in Pakistan. It started out in Lahore by the name Australasia Bank before independence in 1942; was renamed Allied Bank of Pakistan Limited in 1974 and then Allied Bank Limited in 2005. In August 2004, because of capital reconstruction, the Bank’s ownership was transferred to a consortium comprising Ibrahim Leasing Limited and Ibrahim group. Today, with its existence of over 60 years, the Bank has built itself a foundation with a strong equity, assets and deposit base. It offers universal banking services, while placing major emphasis on retail banking. The Bank also has the largest network of over 700 online branches in Pakistan. HISTORY Allied Bank was the first Muslim bank to have been established in Pakistan with a paid-up share capital of Rs. 0.12 million under the Chairmanship of Khawaja Bashir Bux, the Bank attracted deposits equivalent to Rs. 0.431 million in its first 18 months of business. At the time, the Bank’s total assets amounted to Rs. 0.572 million. Today, Allied Bank's paid up Capital & Reserves amount to Rs. 10.5 billion, deposits exceed Rs. 143 billion and total assets equal Rs. 170 billion. 2 PRE INDEPEDENCE 1942-1947 In the early 1940s, the Muslim community was beginning to realize the need for its active participation in the fields of trade and industry. Since the late 1880s, Hindus had established a commanding presence in the areas of industry, trade and commerce and were especially dominating in the Sub-continent area. Banking, in particular, was the exclusive forte of Hindus and it was popularly and wrongly believed that Muslims were temperamentally unsuited for this profession. The Bank’s journey has been about dedication, commitment, professionalism and adapting to , professionalism and adapting to environmental changes,leading to its immense growth and stability. It was particularly upsetting for Khawaja Bashir Bux: to hear that “Muslims could not be successful bankers”. He decided to step-up to that challenge and take the lead in establishing this first Muslim bank by the name Australasia Bank Limited in Punjab, which was to become Pakistan in December 1942. The initial equity of the Bank amounted to Rs 0.12 million, which was raised to Rs. 0.5 million by the end of the first year of operation, and by the end of 30th June 1947 capital increased to Rs. 0.673 million and deposits raised to Rs 7.728 million. 3 ALLIED BANK 1974-1991 In 1974, the Board of Directors of Australasia Bank was dissolved and was renamed Allied Bank. The first year was highly successful; profit exceeded Rs. 10 million, deposits rose by over 50 percent and approached Rs. 1460 million. Investments rose by 72 percent and advances exceeded Rs. 1080 million for the first time in the banking history. 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 in 1974 to 748 in 1991. Deposits rose from Rs. 1.46 billion, and Advances & Investments from Rs. 1.34 billion to Rs. 22 billion during this period. It also opened three branches in the U.K. ALLIED BANK 1991-2004 PRIVATIZATION: 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. After privatization, Allied Bank became one of the premier financial institutions of Pakistan. Allied Bank’s capital and reserves were Rs. 1.525 billion; its assets amounted to Rs. 87.536 billion and 4 deposits to Rs. 76.038 billion. Allied Bank enjoyed an enviable position in Pakistan’s financial sector and was recognized as one of the best amongst the major banks of the country. In August 2004, as a result of capital reconstruction, the Bank’s ownership was transferred to a consortium comprising Ibrahim Leasing Limited and Ibrahim Group. Today, the Bank stands on a solid foundation built over 63 years of hard work and dedication, giving it a strong equity, an asset and deposit base and the ability to offer customers universal banking services with more focus on retail banking. The Bank has the largest network of online branches in Pakistan and offers various technology-based products and services to its diverse clientele through its network of more than 700 branches. ALLIED BANK 2005 TO DATE In May 2005,the Ibrahim leasing group 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. An applications for the listing of ABL shares of all the stock exchange companies of Pakistan. • Islamabad stock exchange 8th August 2005 • Lahore stock exchange 10th August 2005 • Karachi stock exchange 17th August 2005 5 • Faisalabad Stock Exchange 26th August 2008 ALLIED BANK TILL 2007 Mohammad Aftab Manzoor has taken charge as CEO and President of the Bank on August 13, 2007. He is an ex-president of MCB Bank Ltd. 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. 6 BOARD OF DIRECTORS Pervaiz Iqbal Butt (Director) Mohammad Waseem Mukhtar (Director) Sheikh Mukhtar Ahmed (Director) Farrakh Qayyum (Director) Abdul Aziz Khan (Director) Sheikh Jalees Ahmed (Director) Tasneem M. Noorani (Director) Nazrat Bashir (Director) Mubashir A. Akhtar (Director) Mohammad Aftab Manzoor (CEO) Mohammad Naeem Mukhtar (Chairman) REGIONAL BRANCHES Central 1 group: Gujrat Region 21 Sialkot Region 24 Gujranwala Region 34 Gulberg Region, Lahore 38 City Region, Lahore 35 Faisalabad Region 35 Sargodha Region 36 7 Central 2 group: Jhang Region 19 Multan Region 31 Sahiwal Region 25 Bahawalpur Region 22 North group: Abbottabad Region 21 Kohat Region 17 Peshawar Region 40 Mardan Region 32 Islamabad Region 31 Rawalpindi Region 44 Mirpur Region 33 Muzaffarabad Region 18 South group: Hyderabad Region 25 Nawabshah Region 17 Sukkur Region 21 City Region, Karachi 33 Saddar Region, Karachi 33 Nazimabad Region,Karachi 35 Quetta Region 34 8 MANAGEMENT Asim Tufail Fareed Vardag (Group Chief, (Chief Risk Consumer & Officer) Personal Banking) Iqbal Zaidi Zia Ijaz (Group Chief, (Group Chief, Compliance) Commercial & Retail Banking) Mohammad Aftab Muhammad Manzoor Jawaid Iqbal (Chief Executive (Group Chief, Officer) Corporate & Investment Banking) Shafique Ahmed Khawaja Uqaili Mohammad (Group Chief, Almas Human (Head, Core Resources) Banking Projects) Economic Development Of Pakistan 9 Allied Bank of Pakistan plays an important role in the economic development of Pakistan. The bank is bringing a rapid growth in various sectors of the Pakistani economy by their efficient, effective and disciplined mechanism in banking systems. Few of its roles are: 1. Rising Financial Resources: The bank encourages its customers' saving habit by giving various types of incentives on their savings. The bank is gaining more and more recourses by spreading its network throughout Pakistan, and it has over 766 branches in the country's rural and urban areas. The bank is also supporting the business community which make use of resources for productive purposes in Pakistan's economic development. 2. New Investment Opportunities: Businessmen usually hesitate to invest their money in new enterprises. The Allied Bank of Pakistan provides the opportunities to the businessmen to invest their money in new enterprise where the bank's financial analyst guides them about which sector suite them. For adopting new technologies and production method, the bank also provides short-term and medium-term loans on very low interest rate along with financial assistance. This provision of timely credit increases the productive capacity of the Pakistan economy. 3. Promotion Of Trade Of Industry: 10 The bank always seeks to promote the country's trade and industry by providing many facilities such as allied online, bank demand draft, claques over drawn facility, bill of exchange, foreign currency account, allied bank master card, etc to revolutionized both national and international trade. 4. Development Of Different Regions: It plays a key role in development various regions in Pakistan. The bank helps the government transfer the surplus capital from one region to another by announcing different schemes. Then traders and industrialists of less developed region are able to get adequate capital for meeting their business needs. This, in return, increases investment, trade and production in the country. 5. Export Promotion Cell: The bank set up its export promotion cell to increase the country's export. They provide information about general trade and economic condition of the country and government policies about customers' interest both inside and outside. The bank's management understands the demand of global customers. To rectify their difficulties, they introduce online banking services along with latest information network into international banking. CONSUMER 11 In line with the Bank’s aim to provide a host of products and services to its customers, substantial ground work has been done to establish a strong consumer banking business. Furthermore, to achieve this objective, professionals from across the industry have been recruited into areas of product development, sales, credit policy, research, consumer analytics, call centers and service quality departments. The consumer portfolio, comprising the debit card, credit cards, auto loans, personal loans and mortgages will be established phase by phase.