Allied Bank Limited (ABL) is one of the oldest commercial banks in Pakistan, established in 1942 as Australasia Bank and headquartered in Lahore. It was nationalized in 1974 and renamed Allied Bank of Pakistan, privatized through recapitalization in 2004 and renamed Allied Bank Limited in 2005. Currently, ABL is a subsidiary of the Ibrahim Group and is listed on the Karachi Stock Exchange.
CoverageABL
has more than 1,485 branches and 1,572 ATMs in Pakistan, covering both traditional and Islamic banking. In addition, ABL opened an international branch in Bahrain in 2011 to provide services such as personal banking, corporate and investment banking, trade finance, etc.
Regulation &
ComplianceABL is regulated by the State Bank of Pakistan (SBP) and participates in the National Deposit Insurance Scheme to safeguard customer deposits. According to VIS Credit Ratings' 2024 assessment, ABL's corporate governance rating is "CGR 9++", second only to the highest rating, demonstrating its high standards in compliance and governance.
Financial HealthAs
of December 31, 2024, ABL's Capital Adequacy Ratio (CAR) was 26.97%, well above the minimum requirement for SBP. As of March 31, 2024, ABL's non-performing loan ratio was 1.79%, indicating good asset quality. In addition, profit before tax for Q1 2024 stood at Rs.2,2266 crore, up 66 per cent YoY.
Deposits &
LoansDepositsABL
offers a variety of deposit products, including current savings accounts and term deposits. For example, the annual interest rate for a PLS savings account in January 2025 is 11.50%. Fixed deposit products such as Allied Term Plus Deposits, with a minimum deposit amount of INR 10,000 and fixed income and auto-renewal options.
In terms of personal loans, ABL offers an interest rate of 17% plus 17% for salaried individuals and 18% for self-employed individuals. Loan products include home loans, car loans and personal lines of credit, with specific interest rates and conditions that can be customized according to customer needs.
Listof common fees
ABL's fee structure is transparent, including account management fees, transfer fees, overdraft fees, and ATM interbank withdrawal fees. Customers can check the latest fee details through the official website to avoid unnecessary expenses due to hidden fees.
Digital Services Experience
ABL's myABL mobile app has a rating of 4.6 on the Google Play Store and 4.5 on the Apple App Store. The app supports features such as facial recognition login, real-time transfers, bill payments, and integration with investment tools. In addition, ABL offers innovative services such as WhatsApp banking, open banking API support, and metaverse branches.
Customer Service
QualityABL offers 24/7 phone support, and customers can call 111-225-225 for assistance. In addition, customers can also submit complaints and feedback via email, online chat, and social media channels. Based on customer feedback, ABL performs well in terms of complaint handling and responsiveness.
Security SafeguardsABL
uses multiple layers of security measures to protect client funds and data, including real-time transaction monitoring and advanced encryption technology. In addition, ABL is ISO 27001 certified, ensuring that its information security management system complies with international standards.
Featured Services & DifferentiationABL
provides customized services for different customer groups, such as fee-free accounts for students, exclusive wealth management products for the elderly, and green financial products to support sustainable development. In addition, ABL's private banking services provide customized wealth management solutions for high-net-worth clients.
Market Position & Accolades
ABL is the seventh largest bank in Pakistan by market capitalization, accounting for about 7% of bank deposits in the country. In 2024, ABL was named "Best Digital Bank in Pakistan" by Euromoney and "Best Local Bank in Pakistan" by FinanceAsia. In addition, ABL received the Gender Diversity & Inclusion Employer Award for its efforts in gender diversity and inclusion.
