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ABL (Allied Bank Limited)


Allied Bank Limited is Pakistan’s fifth-largest commercial bank and is an Ibrahim Group affiliate. Allied Bank is one of the largest banks in the country with over 1350 branches and ATMs, with its registered office in Lahore. It was the first pre-independence Muslim bank founded in Pakistan (1942) with Australasia Bank’s name.

It was founded in 1974 by Australasia Bank Limited as Allied Bank of Pakistan and it was also integrated into it by Sarhad Bank Ltd, Lahore Commercial Bank Ltd, and Pak Bank Ltd.


ABL is the first Muslim bank established on the territory to become Pakistan later on. It was known as Australasia Bank at Lahore with a capital of 0.12 million on December 3, 1942.

The Chairman at the time was Kh. And Bashir Baksh. ABL’s story has been one of dedication, commitment to professionalism and adaptation to changing changes in the environment.


The history of the Bank is divided into many phases. The bank advanced in all areas of its activities during 25 years of united Pakistan. The 1970s were a tough decade for all Pakistani banks. East Pakistan was divided in 1971 and Australasia Bank lost its 50 branches, as well as lots of money. Yet the rise has remained steady.

Both banks including Australasia Bank were nationalized in 1974. The independent regional banks have consolidated into the Bank of Australasia. The new entity was changed to Allied Bank of Pakistan Limited on 1 July 1974. It then continued its activities as a financial institution in the public sector.

Pre-Independence (1942–47)

Australasia Bank had the rare distinction of directly collaborating with some of Pakistan Movement’s most prominent leaders. Such as Mian Mumtaz Daultana on (Board of Directors), Mian Iftikhar Hussain and Maulana Zafar Ali Khan.

The bank began operating in the garage near the Lahore Railway Station in the bungalow of Khawaja Bashir Baksh (who was the president).

ABL Success

But the Bank’s success forced the directors on 1 March 1944 to open another branch in Anarkali Bazar. First Chief Executive was Khawaja Bashir. He was the person who truly worked hard for their growth. From its great initiatives, his sincerity of purpose can be judged.

In 1945 an additional branch was opened at Amritsar. The bank gained the status of the planned bank in June 1946. Many other branches were opened in Mcleod Road, Lahore, Jallandhar, Ludhiana, Agra, and Delhi during the period 1946-47.

Australasia Corporate Banking

It was Pakistan’s only fully functional Muslim Bank in the country. Allied Bank became identified with the Pakistan movement on August 14, 1947.

Many of its managing boards were prominent leaders of the Muslim League. Rioters attacked branches of Jallandhar and Ludhiana because of Muslim personnel appointed in those branches.

When Pakistani flags were hoisted on them all branches in India were closed down. The bank lost nearly 6 branches along with lots of money and deposits with this.

New branches in Karachi, Rawalpindi, Peshawar, Sialkot, Sargodha, Jhang, Gujranwala, and Kasur opened during 1948. Later, its branches were stretched to Multan and Quetta.

Fund Trading

At the time, the bank funded trade in cloth and food grains and thus preserved the stocks of buyers during the early months of 1948, which had been hit by disturbances. In 1947-48 Australasia Bank made a profit of PKR 50,000.

Other than providing the treasury functions of the Federal Government of Pakistan. It also acted as a banker to several local government bodies and to the University of Punjab during this period.

Treasury functions were taken over by the National Bank of Pakistan in 1949. The chairman had been succeeded in 1950-51 by his own brother Khawaja Sharif Baksh.

Chairman of the Board

Naseer A. Sh. during 1955-56 He became Chairman of the Board and a near working relationship between the new Chairman and the Managing Director was forged. Through modernizing the bank’s activities and consolidating its financial position, this relationship has proven its value.

In 1963 M A K Yousufi Deputy General Manager of Muslim Commercial Bank took over as General Manager of ABL and it had 29 branches in different cities at that time.

The deposits were 89 million, and 66 million advance. Bank was mainly concerned with the financing of general banking and trade.


In 1964 thirteen new branches were opened in East Pakistan including three. In 1965, 17 new branches were opened and over 83 percent of the year’s gross profit was earmarked for expenditure on development in connection with the opening of new branches.

In 1964 thirteen new branches were opened in East Pakistan including three. In 1965, 17 new branches were opened and over 83 percent of the year’s gross profit was earmarked for expenditure on development in connection with the opening of new branches.

New Branches

Yousufi opened 26 new branches in 1966 and doubled its reserved funds. For the first time in history, its advances increased to 160 million PKR and 0 deposits increased by nearly 58 percent above the PKR 232 million marks.

Its central office was built in Karachi in 1966 but the head office at Shah Chiragh Building, Lahore, remains.

The company opened 16 new branches in 1967 and 20 in 1968. Likewise, with those new openings, the bank’s funds gradually increased. In 1971 twenty-one new branches opened. Yet, owing to East Pakistan’s split, the bank lost 51 branches which were a big loss. India occupied Bangladesh and took Senior Executives Khadim Hussain Siddiqui and Inam Elahi as prisoners of war.

Public Sector Years (1974-91)

Under the 1974 Nationalization Act, the government took over 14 scheduled banks. The board of directors of Australasia Bank was dissolved, and the bank was renamed the Allied Bank of Pakistan Limited.

Merged into Australasia Bank, Sarhad Bank, Lahore Commercial Bank, and Pakistan Bank Limited.ABL was second-highest among all banks that were nationalized in 1974 at the time of this merger.

The first executive board of Allied Bank was composed of Iqbal A. Rizvi as president. Ajmal Khalil as joint president and Khadim Hussain Siddique as director. I.D. In 1974. Junejo and Abbas Zaidi joined the board, as well.

In 1974, 116 new branches were opened, and ABL began participating in the government’s commodity operation program.

The bank played an important role in loans from the agricultural area and other credits in the 1970s. Ajmal succeeded Rizvi as Chief Executive and President in 1976. 361 new branches were opened between 1974-77, and 230 of these were located in villages and small towns.

In 1991, Pakistan had 745 branches of Allied Bank.

Privatization Process (1991-2004)

The government announced its intention to accelerate the restructuring of the banking sector in November / December 1990. Under Khalid Latif’s leadership, Allied Bank’s management decided to respond positively to that question.

After privatization in September 1991, Allied Bank entered a new era in its history. As the first bank in the world to be owned and managed by its workers. The bank enjoyed an enviable position in Pakistan’s financial sector and was recognized as one of the country’s top big banks. In August 2004 the bank’s ownership was passed to a group of Ibrahim Leasing Limited and Ibrahim Group as a part of the capital restructuring.


The bank provides various products and services to its customers to meet their investment needs, as well as other social or business needs. These Bank-offered products and services are as follows:

Commercial Banks:

ABL provides Daily Banks, Lifestyle Banking, Savings & Term Deposits, Credit & Debit Cards, Domestic Remittance, Insurance and Electronic Banking Services (including myABL Private Internet Banking, myABL Phone App, myABL FonePay App, and SMS Banking) under Personal Banking.

Business Banking:

ABL provides Corporate & Investment Banking, Payment & Business Accounts, Home Remittances to Pakistan, Cash Management Solutions, Financial Services, SME Financing, Business Internet Banking.

Islamic Banking

In September 2018, ABL launched its Sharia-compliant Aitbaar Islamic Banking service. Through its network of 117 dedicated Islamic banking branches spanning 53 major Pakistani cities.

Awards and Achievement

Islamic Finance Award of Excellence to Allied Bank Limited by the Punjab State, Pakistan in 2017.

ABL (Allied Bank Limited), Pakistan
ABL, Pakistan

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