Allied Banking Corporation
Allied Banking Corporation was a Philippine commercial and universal bank that merged into Philippine National Bank in 2013.
Last updated August 31, 2026
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Overview
Allied Banking Corporation was a Philippine banking institution established in 1977 and subsequently developed into a commercial and universal banking group. It originated as a spin-off associated with the acquisition of the insolvent General Bank and Trust and was incorporated under Philippine law on April 11, 1977. The Central Bank of the Philippines issued its certificate of authority to operate as a commercial bank on May 20 of that year, and the institution formally opened for business on June 2, 1977. The bank expanded beyond conventional domestic commercial banking during its operating life. In August 1977 it received authorization to operate an expanded foreign currency deposit unit, allowing it to handle qualifying foreign-currency deposits and related transactions. In December 1981 it was authorized to operate as an expanded commercial bank, or universal bank, broadening the scope of activities available to the group. Allied Bank subsequently built a domestic network and a range of affiliated financial businesses, including a savings bank, a foreign-exchange company, and a leasing and finance affiliate. At its largest documented scale, Allied Bank had 288 domestic branches and offices. Its international presence included offshore banking units in Bahrain and Guam, a wholly owned banking subsidiary in the United Kingdom, a majority-owned banking subsidiary in Hong Kong, a majority-owned commercial bank subsidiary in Xiamen, China, and an affiliated commercial bank based in San Francisco with a Guam branch. The group also maintained representative offices in Australia, Germany, Italy, Japan, Singapore, and Spain. These operations gave Allied Bank a wider cross-border footprint than a purely domestic retail bank, while its principal market and institutional base remained the Philippines. The bank became closely associated with the business interests of Lucio Tan. A significant legal and corporate turning point followed a December 7, 2007 decision of the Supreme Court of the Philippines affirming the dismissal of the government's sequestration of Tan-related companies. The decision removed a major legal impediment to a proposed combination involving Allied Bank and Philippine National Bank. Public commentary at the time projected that the combined institution would rank among the largest banks in the Philippines. The merger with Philippine National Bank was completed on February 9, 2013. The surviving institution adopted the Philippine National Bank name, and Allied Banking Corporation ceased to operate as an independent banking entity. Florencia Tarriela became chairman and Omar Byron Mier became chief executive of the merged bank. Before its absorption, Allied Bank had been described as one of the Philippines' larger banks; data cited for December 31, 2007 placed it ninth among private domestic commercial banks by total deposits and tenth by net worth. The available reference material does not establish a complete chronology of its ownership, branch-level products, financial results, or all former executives.
History
Allied Banking Corporation was incorporated in the Philippines on April 11, 1977, following its emergence as a spin-off connected with the acquisition of the insolvent General Bank and Trust. The Central Bank of the Philippines granted the institution authority to operate as a commercial bank on May 20, 1977, and it began serving customers on June 2. Within its first year, Allied Bank received authorization to operate an expanded foreign currency deposit unit, indicating an early intention to participate in foreign-currency and internationally connected banking activities. The institution's regulatory scope expanded in December 1981, when it was authorized to operate as an expanded commercial bank, commonly referred to in the Philippines as a universal bank. This status allowed Allied Bank to develop a broader financial-services structure than a conventional commercial bank. Its domestic group included Allied Savings Bank, Allied Forex Corporation, and Allied Leasing and Finance Corporation. The bank also developed international banking interests and related entities outside the Philippines. The documented international network included offshore banking units in Bahrain and Guam; Allied Bank (UK) Plc in the United Kingdom; Allied Banking Corporation (Hong Kong), Ltd.; Allied Commercial Bank in Xiamen, China; and Oceanic Bank, an affiliated commercial bank headquartered in San Francisco and operating a branch in Guam. Representative offices were established in Australia, Germany, Italy, Japan, Singapore, and Spain. The structure combined domestic branch banking with overseas subsidiaries, affiliates, offshore units, and representative offices. By December 31, 2007, Allied Bank ranked ninth among private domestic commercial banks in the Philippines by total deposits and tenth by net worth, according to the figures cited in the reference material. It operated 288 domestic branches and offices, making it a substantial participant in the Philippine banking sector. Its major domestic competitors included Metrobank, Bank of the Philippine Islands, Banco de Oro, and LandBank. A major strategic development followed a December 7, 2007 Supreme Court decision concerning the government's sequestration of companies associated with Lucio Tan. The Court affirmed the dismissal of the sequestration, and the ruling helped remove a legal barrier to the proposed merger of Allied Bank and Philippine National Bank. Analysts and other observers expected the combined institution to become one of the largest domestic banks in the country. The transaction was completed on February 9, 2013. The merged organization adopted the Philippine National Bank name, meaning that Allied Banking Corporation no longer continued as a separate bank. Florencia Tarriela was identified as chairman and Omar Byron Mier as chief executive of the combined bank. The merger represents the final documented stage of Allied Bank's independent corporate history. The available sources do not provide enough reliable information to reconstruct every ownership transfer, executive appointment, product launch, or financial result during the bank's operating period.
- 2013
Merger into Philippine National Bank
[1]The PNB–Allied Bank merger was completed on February 9. The surviving organization used the Philippine National Bank name.
- 2007
Supreme Court ruling affecting the proposed merger
[1]The Philippine Supreme Court affirmed the dismissal of the government's sequestration of Lucio Tan-associated companies, helping clear the way for the proposed PNB–Allied Bank combination.
- 1981
Universal banking authorization
[1]In December, Allied Bank received authorization to operate as an expanded commercial bank or universal bank.
- 1977
Incorporation
[1]Allied Banking Corporation was incorporated under Philippine law on April 11, 1977.
- 1977
Commercial banking authorization and opening
[1]The Central Bank of the Philippines authorized Allied Bank to operate as a commercial bank on May 20, and the institution formally opened on June 2.
- 1977
Expanded foreign-currency authorization
[1]Allied Bank was authorized on August 19 to operate an expanded foreign currency deposit unit.
Products and positioning
Philippine commercial and universal banking group with domestic scale and international banking affiliates.
Banking · 1977
Commercial banking
Allied Bank's core business was commercial banking in the Philippines. The institution served domestic customers through a substantial branch and office network and later operated within the broader regulatory scope of a universal bank. The available material does not provide a reliable itemized list of deposit, lending, card, or transaction products.
Foreign-currency banking · 1977
Expanded foreign currency deposit unit
The bank was authorized in August 1977 to operate an expanded foreign currency deposit unit. This capability supported foreign-currency deposit and related banking activities within the Philippine regulatory framework.
Universal banking · 1981
Universal banking group
After receiving expanded commercial-bank authorization in 1981, Allied Bank operated as a universal banking group. Its associated businesses included Allied Savings Bank, Allied Forex Corporation, and Allied Leasing and Finance Corporation, allowing the group to cover banking and selected financial-services activities.
International banking
International and offshore banking
Allied Bank maintained offshore banking units in Bahrain and Guam and held interests in banking entities in the United Kingdom, Hong Kong, China, and the United States. It also maintained representative offices in several Asia-Pacific and European markets. These operations supported the group's cross-border banking presence.
Brand decisions
2013
Merge with Philippine National BankM&ABackground
The proposed combination followed legal developments concerning the government's sequestration of Lucio Tan-associated companies and was expected to create one of the Philippines' largest domestic banks.
Action taken
Allied Banking Corporation merged with Philippine National Bank on February 9, 2013, with the combined institution adopting the Philippine National Bank name.
Aftermath
Allied Banking Corporation ceased operating as an independent bank. Florencia Tarriela became chairman and Omar Byron Mier became chief executive of the merged organization.
1981
Expand into universal bankingStrategyBackground
Allied Bank had begun as a commercial bank and had already received authority to operate an expanded foreign currency deposit unit.
Action taken
In December 1981, it obtained authorization to operate as an expanded commercial bank or universal bank.
Aftermath
The authorization supported the development of a broader financial group containing savings, foreign-exchange, leasing, and finance businesses.
Recent events
Allied Bank launches voice-assisted banking[2]
Reported:
Allied Bank introduced voice-assisted banking using Siri for eligible myABL Digital Banking customers using iPhone devices.
- Unconfirmed
Allied Bank partners with Golootlo to offer discounts[3]
Reported:
Allied Bank signed an agreement to offer Golootlo discounts through the myABL Digital Banking App and UPI-PayPak co-badged debit cards.
Sources3 sources
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