< Allied Bank Limited. >

Allied Bank as part of its commitment to improving customer service is in the process of launching its new Allied Visa Credit Card from July 1, 2008.

Accordingly, all existing ABL MasterCard credit cards will be blocked/ inactivated by June 30, 2008 preventing any future transactions on those cards. To assist customers in this process, Allied Bank will be contacting its customers/cardholders directly and through personal visits from duly authorised representatives for the purposes of obtaining consent and other related documentation including copies of CNICs. Any balances remaining on the ABL Mastercard will after compliance with formalities, be transferred to the new Allied Visa Credit Card to avoid any inconvenience to existing customers. Please do not hand over any original documents or any Credit Card to any of our representative. Allied Bank thanks its customers for their cooperation and apologises for any inconvenience caused.

We welcome our customers to the new world of Allied Visa Credit Cards and related benefits and privileges.

If you require further assistance or help, please call Allied Phone Banking at 0800-22522 and our agents will be more than happy to help.

May 27, 2008: - We are pleased to inform that the Pakistan Credit Rating Agency Limited (PACRA) has assigned a rating of AA- (double A minus) to the proposed listed, unsecured and subordinated second TFC issue of up to PKR 5,000mln by ABL. The rating denotes a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.

March 31, 2008: – The shareholders of Allied Bank Limited (ABL) in their 62nd Annual General Meeting adopted the Annual Accounts of the Bank for the year 2007. The meeting was chaired by Mr. Mohammad Naeem Mukhtar, Chairman; Board of Directors; representatives of SBP and large number of shareholders.

The shareholders accorded approval for the payment of 15 percent cash dividend, i.e., Rs.1.50 per share as recommended by the Board of Directors in addition to 15 percent interim cash dividend already paid for the year 2007. The shareholders also approved issuance of 20 percent bonus shares by utilizing share premium account.

Deposits of the Bank increased to Rs. 264 billion up by 28 percent from previous year. Despite tough market conditions, ABL was able to maintain growth in current and Saving Deposits portfolio depicting confidence and reliance placed on banking with ABL by the depositors. The Loan Book increased to Rs 179 billion, up by 18 percent from previous year. Total assets of the Bank increased to Rs. 320 billion. The Profit after Tax (PAT) was Rs.4.076 billion.

With over 750 branches offering real-time online banking and highest number of over 450 ATMs in more than 145 cities and towns, Allied Bank continues to maintain its lead of being one of the top Banks in the Country. The Bank has won “The Corporate Finance House of the Year – Banks 2006-2007” award from CFA Association of Pakistan for the second consecutive year.

Karachi, March 1, 2008 – The Board of Directors of Allied Bank Limited (ABL), in its meeting approved the accounts for the financial year ended December 31, 2007.
Allied Bank earned Rs. 4,076.158 million during the FY07 as compared to Rs. 4,397.250 million earned in the corresponding period in 2006.

Operating Profit aggregated Rs. 8.827 billions, with an increase of 17 percent over the last year.

Mark-up/ return/ interest income increased to Rs. 21.201 billion in 2007 as against Rs. 17.215 billion in 2006. The Bank’s mark-up/ return/ interest expenses were up to Rs. 10.019 billion compared to Rs. 6.793 billion last year. Total non-mark-up/ return income increased to Rs. 3.920 billion in 2007 as against Rs. 2.449 billion in 2006 while the Bank’s total non-mark-up/ return expenses stood at Rs. 6.434 billion compared to Rs. 5.505 billion.

Deposits grew substantially by 28 percent from Rs. 206 billion while Advances registered an increase of 18 percent from Rs. 152 billion last year in 2006 to Rs. 179 billion this year.

The balance sheet size grew from Rs. 252 billion to Rs. 320 billion, at a rate of 27 percent. This has resulted in earnings per share (EPS) of Rs. 7.57 as against Rs. 8.16 percent during the previous year.

The Board of Directors also announced a cash dividend of Rs. 1.5 per share i.e., 15 percent and to issue bonus shares in the proportion of one share for every five shares held, i.e., 20 percent which makes the total dividend for the year to 50 percent (including 15 percent interim dividend.)

Karachi, January 31, 2008: Allied Bank has signed an agreement with Teradata to transform its call center into a single-window Customer Contact Center for all its customer interactions and phone banking services. Customers will be able to pay bills, generate their PIN numbers, get real time access to transaction history and customize their banking services through the contact center.

Mr. Azhar A. Jaffri, Head, Consumer Banking Group, Allied Bank and Mr. Khuram Rahat, Managing Director, Teradata Pakistan (Pvt.) Ltd., signed the agreement. Also present on the occasion were Ms. Scellina Nawaz, Head, Service Quality Group, Mr. Asim Tufail, Head, Product & Marketing Group, Mr. Ghazanfer Iqbal, Account Director, Teradata and Mr. Ahsan Mashkoor, Account Manager, Teradata.

Speaking on the occasion, Mr. Azhar A. Jaffri, Head Consumer Banking Group, Allied Bank said: “Choosing Teradata as Allied Bank’s technology partner is part of our endeavors to further expand our world class technology platform. We already have the largest number of 440 ATMs and 757 real-time online branches across Pakistan. This modern Customer Contact Center will add more value by providing exceptional Customer Experience through 24/7 phone banking services.”

“We are pleased that Allied Bank has chosen Teradata as its strategic partner.” said Mr. Khuram Rahat, Managing Director, Teradata Pakistan (Pvt.) Ltd. “We look forward to being a part of Allied Bank’s growth plans and partner in setting up state-of-the-art customer care facilities in Pakistan.”

Karachi, December 8, 2007: Renowned artist Iqbal Durrani’s exhibition began here at Indus Gallery which is supported by Allied Bank. All oil-on-canvas paintings displayed at the gallery are mainly about women and pigeons which reflect the painter’s appreciation for peace and beauty.

Born in Karachi in 1962 Iqbal Durrani graduated from Karachi School of Art in 1981 and though a brilliant draughtsman, initially painted abstract compositions. Later he adopted his present style in varying mediums, tapping a rich vein on the art market.

“Durrani is astutely aware of the demand for his work and continues to produce visually pleasing pieces endowed with fresh, often unusual color contrasts and a young man’s restless energy,” says Marjorie Husain, in one of her reviews of Iqbal Durrani.

Indus Gallery is one of the first professional art galleries established in Karachi. Its mission is to promote art of Pakistani painters, provide knowledge about modern art to artists, students and buyers. The gallery discourages artists from copying old masters and other paintings.

Allied Bank, as part of its Corporate Social Responsibility, leads the banking industry in promoting and supporting visual arts and young artists.

Karachi, November 16, 2007: The “3rd All Pakistan Allied Bank Open Golf Championship” began at Llyalpur Golf Club in Faisalabad today. Waseem Mukhtar, Director, Allied Bank, opened the three-day Championship.

51 top ranking players of Pakistan on PGA listing are participating, representing top 10 golf clubs of the country, while Amateurs from all over Pakistan are also taking part in this prestigious event.

Prize money for the first position has been revised to Rs. 70,000 as against Rs. 45,000 last year while 2nd prize will carry a purse of Rs. 50,000 as against 32,000 in 2006.

Amateurs, Juniors and Senior Amateurs securing 1st, 2nd and 3rd positions will be given cash prizes on gross and net scores. The Allied Bank Cup will be presented to the player having best score in net.

Allied Bank has arranged accommodation for all Amateur golfers, participating from across the country.

Karachi, March 14, 2008: Allied Bank has won ‘The Corporate Finance House of the Year (Banks)” award for the second consecutive year. CFA Association of Pakistan, a member society of CFA Institute – USA, conferred the award on Allied Bank based on the highest value and number of Corporate Finance transactions concluded during July 2006 – December 2007.

Mr. Jawaid Iqbal, Group Head, Corporate & Investment Banking Group, Allied Bank, received the award from Mr. Shaukat Tarin, who was the Chief Guest on the occasion.

CFA Association of Pakistan (CFAAP) held its 5th Annual Excellence Awards recently, to honour various institutions from the Financial Sector excelling in the fields of Corporate Finance, Research and Equity Brokerage for the year 2006 - 2007. The CFAAP Excellence Awards have become a local industry benchmark and recognizes the fine performance of various banks and NBFIs.

This year 11 local and foreign banks were nominated for the “The Corporate Finance House of the Year (Banks) for the period July 2006 – December 2007”.

Commenting on this achievement, Mr. Mohammad Aftab Manzoor, CEO, Allied Bank said: “This is a significant achievement for ABL to earn this prestigious award keeping in view its comparatively smaller balance sheet size and its relatively short history of relationships with corporate customers. Allied is now first choice bank for many of top-notch corporate customers in the country.”

Karachi, March 12, 2008: A Signing Ceremony was held here to mark the financial close of PKR 13,000 Million multiple Syndicated Facilities arranged by Allied Bank for Maple Leaf Cement Factory Limited (MLCFL). The ceremony was attended by Mr. Mohammad Aftab Manzoor, CEO, Allied Bank and Mr. Tariq Sayeed Saigol, Chairman, MLCFL. Also present on the occasion were Mr. Jawaid Iqbal, Group Head, Corporate & Investment Banking Group, Allied Bank; and Ms. Bushra Naz Malik, CFO, MLCFL.

Allied Bank was mandated by Maple Leaf Cement Factory as Financial Advisor & Lead Arranger for Multiple Facilities totalling PKR 13,000 Million which besides being the largest ever financing to a cement company in Pakistan, is also the largest financing arranged solely by any Investment Bank in Pakistan.

To fully capitalize on the domestic market conditions, Allied Bank designed a custom made transaction structure for the Balance Sheet Restructuring & Debt Re-Profiling for Maple Leaf Cement. The transaction structure provided the Company with substantial savings in its financial costs along with easing out its immediate debt burden.

The financing facilities comprised of a PKR 8,000 Million Sukuk Issue, PKR 2,500 Million PPTFC Issue and a PKR 2,500 Million Syndicated Term Finance Facility. These facilities comprised of Commercial Banks, Development Financial Institutions and Asset Management Companies.

Mr. Aftab Manzoor, CEO, Allied Bank said: “The uniqueness of this transaction is the broad based portfolio of lenders and investors which include Commercial & Islamic Banks, Developmental Financial Institutions, Asset Management Companies and Securities firms,” and added that the purpose for such a broad based lender portfolio was to diversify and strengthen Maple Leaf’s relationship with not only its existing lenders, but to also create relationships with new lenders and investors.

Mr. Tariq Sayeed Saigol thanked Allied Bank for its efforts in arranging the multiple facilities and said: “Maple Leaf Cement is proud of its association with Allied Bank and we hoped that the relationship would develop to new heights.”

JCR-VIS Credit Rating Company Limited has assigned a corporate governance rating of CGR-8 to Allied Bank Limited (ABL), which denotes ‘high level of corporate governance’.

Corporate Governance ratings are arrived at after evaluating key governance elements of the rated enterprise, which include regulatory compliance, ownership structure, composition and operations of the board of directors and executive management, self-regulation, financial transparency and relationship with stakeholders. In order to reduce the level of subjectivity inherent to any such exercise, these elements have been further sub-divided into several elements, each of which is considered independently by the rating committee.

Karachi, November 7, 2007: Allied Bank Limited and Descon Oxychem (Pvt.) Ltd. (DOL), have signed an agreement to mark the financial close of PKR 1,100 Million Structured Limited Recourse Project Finance Facility arranged by Allied Bank Limited for Descon Oxychem (Pvt.) Limited (DOL), a Company of Descon. Mr. Abdul Razak Dawood, Chairman, Descon and Mr. Mohammad Aftab Manzoor, President, Allied Bank attended the ceremony.

DOL is setting up a manufacturing plant of Hydrogen Peroxide (H2O2) with a capacity of 28,000 MTY (50 percent concentration) at a distance of 18 km from Lahore on Lahore-Sheikhupura road. H2O2 is a bleaching and oxidizing agent and is essentially required in textile, paper & food industries of Pakistan to comply with the international and national environment and quality standards. The Project is being financed in debt equity ratio of 60:40. The overall complex will mainly consist of (a) hydrogen plant and (b) hydrogen peroxide plant and utilities area. Chematur Engineering, Sweden is providing license, technical know-how and engineering of the H2O2 complex in association with Descon Engineering Limited. The selected process is up to date, cost effective and is based on state of the art fluidized bed technology.

Allied Bank Limited as Financial Advisor and Lead Arranger has successfully structured and arranged a Limited Recourse Project Finance Facility of PKR 1,100 Million to finance the project being undertaken by Descon Oxychem (Pvt.) Limited. The syndicate is led by Allied Bank Limited, while other members include Askari Bank Limited, Saudi Pak Industrial & Agricultural Investment Company (Pvt.) Limited, Pak-Libya Holding Company (Pvt.) Limited, Mybank Limited, Habib Metropoliton Bank Limited, Soneri Bank Limited and Pak Oman Investment Company Limited.

Mr. Abdul Razak Dawood informed the eminent participants that presently the demand of H2O2 is increasing, as it is an Environment safe replacement of harmful CFC based industrial chemicals damaging Ozone layer and Green nature of planet EARTH. Currently the entire demand is met by importing H2O2 thus adding further pressures on the balance of payments for Pakistan. Descon being a socially responsible corporate is strongly committed to participate in economic development of Pakistan and believes in providing Safe liveable environments.

"Considering that there is an opportunity to manufacture and market H2O2 in Pakistan to meet the increasing demand of H2O2, this green-field project ventures into an untapped market. Moreover, the backing of a well-reputed and financially strong business enterprise which has successfully undertaken various business ventures and has the required engineering and marketing experience, it is predicted to become one of the major players of the industry" concluded Mr. Aftab Manzoor, President, Allied Bank Limited.

Karachi, October 25, 2007: The Board of Directors of Allied Bank Limited (ABL), in its meeting approved the accounts for the nine months ended September 30, 2007.

Compared to the corresponding period of last year, ABL posted a pre-tax profit of Rs. 6.3 billion, registering an increase of 24 percent. After-tax profit improved to Rs. 4.2 billion or by 23 percent. This has resulted in annualized earnings per share of Rs.10.3 for this period compared to Rs.8.3 during the corresponding period of last year.

The Bank maintained its momentum of balance sheet growth which reflects an improvement to Rs. 280 billion or 11 percent over December 2006. Deposits increased to Rs. 234 billion or by 13.5 percent whereas investment grew by 70 percent while maintaining the loan book size at December 2006 level.

Annualized return on equity stands at 29.3 percent and return on assets is 2.1 percent.

Karachi, July 18, 2007: Allied Bank has declared rates of profit on PLS Deposits applicable as on June 30, 2007

PLS SAVINGS DEPOSITS
Upto Rs 100,000	0.10%
Rs 100,000 and above	1.00%
ALLIED PROFIT PLUS DEPOSIT ACCOUNT
Rs.500,000 to less than Rs.1,000,000	5.00%
Rs. 1,000,000 to less than Rs. 5,000,000	6.00%
Rs. 5,000,000 to less than Rs. 10,000,000	6.50%
Rs. 10,000,000 to less than Rs. 25,000,000	7.50%
Rs. 25,000,000 and upto Rs. 50,000,000	8.00%
ALLIED PROFIT PLUS TERM DEPOSIT ACCOUNT
1 MONTH
Rs 500,000 to less than Rs 5,000,000	6.50%
Rs 5,000,000 to less than Rs 10,000,000	6.75%
Rs 10,000,000 to less than Rs.15,000,000	7.00%
Rs 15,000,000 to less than Rs.20,000,000	7.50%
Rs 20,000,000 and above.	8.00%
3 MONTHS
Rs 500,000 to less than Rs 5,000,000	7.00%
Rs 5,000,000 to less than Rs 10,000,000	7.25%
Rs 10,000,000 to less than Rs.15,000,000	7.50%
Rs 15,000,000 to less than Rs.20,000,000	8.00%
Rs 20,000,000 and above.	8.50%
6 MONTHS
Rs 500,000 to less than Rs 5,000,000	7.50%
Rs 5,000,000 to less than Rs 10,000,000	7.75%
Rs 10,000,000 to less than Rs.15,000,000	8.00%
Rs 15,000,000 to less than Rs.20,000,000	8.50%
Rs 20,000,000 and above.	9.00%
12 MONTHS
Rs 500,000 to less than Rs 5,000,000	8.00%
Rs 5,000,000 to less than Rs 10,000,000	8.25%
Rs 10,000,000 to less than Rs.15,000,000	8.50%
Rs 15,000,000 to less than Rs.20,000,000	9.00%
Rs 20,000,000 and above.	9.50%
ALLIED e-SAVERS SCHEME	Upto 7.5%
ALLIED MONTHLY INCOME SCHEME	10.20%
PPA OPERATIONAL ACCOUNTS
Less than Rs 100,000	0.10%
Rs 100,000 to less than Rs 1,000,000	2.00%
Rs 1,000,000 to less than Rs 10,000,000	3.00%
Rs 10,000,000 to less than Rs.50,000,000	5.00%
Rs 50,000,000 to less than Rs. 100,000,000	6.00%
Rs 100,000,000 to less than Rs. 250,000,000	7.50%
Rs 250,000,000 to less than Rs. 500,000,000	8.00%
Rs.500,000,000 & above	8.50%
PPA TERM DEPOSIT ACCOUNTS
30 days: Rs 50 million to less than Rs.500 million	1.25%
Rs.500 million & above	1.50%
90 days: Rs.50 million to less than Rs.500 million	2.00%
Rs.500 million & above	2.50%
PLS TERM DEPOSITS
1 Month	0.75%
2 Month	1.00%
3 Month	1.25%
6 Months	1.50%
1 Year	2.00%
2 Years	2.00%
3 Years	2.00%
4 Years	2.00%
5 Years	3.00%
10 Years	4.00%
ALLIED BACHAT SCHEME(ABS)	Upto 13.33%
PLS SPECIAL NOTICE DEPOSITS
7 to 29 days
Less than Rs 10,000,000	0.50%
Rs 10,000,000 & above	3.00%
30 days & above
Less than Rs 10,000,000	1.00%
Rs 10,000,000 & above	4.00%

Safe Deposit Lockers' Insurance
The Bank has already informed its Safe Deposit Locker Holders through half yearly Statement of Accounts as on 30-06-2007 that the Bank has arranged insurance cover at its own cost subject to the terms and conditions of the insurance policy for the losses sustained and discovered by reasons of damage, destruction or loss by fire, burglary and locker breaking.

Maximum insurance ceiling provided for each category of lockers is mentioned hereunder:

S. No.	Locker Size	Annual Locker Rent (Current)	Maximum Loss Coverage / Limit
1	Small	Rs.1,500/-	Rs.500,000/-
2	Medium	Rs.2,000/-	Rs.1,000,000/-
3	Large	Rs.4,000/-	Rs.1,500,000/-
4	Extra Large	Rs.5,000/-	Rs.2,000,000/-

Computerized National Identity Card
The bank has been continouly requesting through notices/letters to its calved customers for submisson of attested copies of their computerized national identity card (CNIC) to the respective branches. the last date of submission of the same has expired on June 30, 2007. However, based on the Bank's presentation, State Bank Of Pakistan has extended the same to December 31, 2007. You are once again requested to submit copy of your CNIC before the deadline, failing which, the Bank will be constrained to stop all withdrawal from your account.

Zero Balance Accounts
The accounts which are inoperative since the last one year, shall be classified as "Dormant" account(s) and operation(s) in such account(s)will be activated as per the Bank's rule(s), and such valued customers are requested to visit the their concerned branch(es) to activate their account(s). The dormant account(s) showing "ZERO" balance, if not revived,shall be closed without further notice.

Applications are invited from Architects / Contractors and contracting firms for pre-qualification for the renovation / construction of branches / offices. Interested Architects / Contractors may send their application to the undersigned along with the following details:

1. Full name & address along with organizational structure of the firm indicating the name of directors / partners / proprietors and their qualifications and experience.

2. Nature of company with year of establishment in case of partnership or proprietorship or year of incorporation in case of private and / or limited companies.

3. Memorandum & Articles of Association and paid up Capital / Partnership Deed with shares of Partner and Registration Certificates copies.

4. National Income Tax Number & Sales Tax Registration Number.

5. Bankers certificate showing credit worthiness of the firm. Income Tax returns for last three (03) years.

6. List of permanent Employees, (Key personnel who will be involved with the projects) along with their name, qualification and designation.

7. Detail of plants, machinery, manufacturing facilities, transport, skilled manpower / personnel and other equipment owned by the firm.

8. Details of similar work executed by the firm during last 5 years and list of works in hand, scope of work, approximate cost and time taken for completion along with completion certificate.

9. A affidavit to the effect that the firm has not been black listed by any Government / Autonomous body.

10. Details of litigation, if any in which the firm has been involved during any work.

11. Copy of the valid Registration Certificate with the Pakistan Engineering Council / Government / Semi Government Organization / Pakistan Council of Architects and Town Planners (PCATP)

12. Incomplete and conditional applications will not be considered for pre-qualification.

All information supplied should be supported by copies of relevant documents, letters, certificates etc., should reach to the below mention address by 15.10. 2007.
Bank reserves the right in its sole discretion to reject any application without assigning any reason thereof. If any information furnished by the contractor / firm proves to be false at any later stage, the contract, if awarded, is liable for cancellation and other actions legal and otherwise will be taken against the contractor / firm.

( AFTAB ABBAS )
SR. VICE PRESIDENT & GROUP HEAD
ENGINEERING - OPERATION GROUP
ALLIED BANK LIMITED, CENTRAL OFFICE,
MAIN CLIFTON ROAD, KARACHI

CMPak Ltd., a subsidiary of China Mobile Company (the largest Cellular Service provider in the world) has entered into an agreement for Cash Management services with Allied Bank Ltd. (ABL) throughout its network across Pakistan.

CMPak’s parent company, China Mobile, is the largest cellular service provider in the world, both in terms of network scale and subscriber base. It has been ranked 2nd in the Top 500 Chinese companies in terms of its overall strength and service provision by the China Enterprise Confederation. It is also the only Chinese company among the Forbes “Top 400 World’s Best Big Companies” for 3 consecutive years.

This is a landmark deal for ABL, as we partner up with a major telecoms player; CMPak was acquired for USD 284 Million, and the company has subsequently completed over USD 1 Billion in infrastructure contracts to expand and upgrade its network architecture. Further investments, as well as a series of creative and aggressive marketing and sales initiatives are also planned, in order to grow market share and establish brand identity.

China Mobile’s acknowledged global leadership position in the cellular telecommunications sector heralds great things for their entry into the Pakistan market. Under our agreement with them, CMPak’s sales offices, dealers, franchisees and other channel partners will access Pakistan’s largest realtime online banking network, thoroughly streamlining the receivables management processes of the company. Furthermore, it will enhance customer service while significantly reducing operational risks and associated costs.

Providing a high quality of service to CMPak’s network of offices and partners nationwide represents a significant opportunity to ABL. We are committed to helping CMPak attain their strategic goals, and will continually look for ways to improve and enhance our services. We will strive to create new synergies for CMPak through our innovative, scalable and fully integrated product suite.

An important component of the overall value we see in this type of mandate is the related business streams that are naturally acquired and built up over time; apart from treasury, trade and lending business, a cash management mandate can lead to significant new volumes throughout the branch network in the form of supply chain accounts belonging to distributors, suppliers and other partners of our main corporate client. Thus, one central customer generates revenues for many different businesses within the Bank.

The continuous acquisition of major corporate mandates demonstrates that the Bank is well underway with its ambitious strategy based on the twin foundations of service excellence and technological superiority. These foundations will underpin our cash management and transactional banking businesses going forward, and help us to achieve our aspiration to become the top Cash Management Bank in Pakistan within the next 3 years.

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Allied Bank has been declared “BANK OF THE YEAR 2006” by UK’s renowned financial magazine “The Banker” published by Financial Times Business Limited. This is considered to be the most prestigious award in the world of finance. The award is given by the “The Banker” annually to one high performer Bank in each country based on key performance indicators.

“The Bank of the Year 2006” Award was presented to Mr. Khalid A. Sherwani, President of the Bank during a ceremony held at London, UK on November 30, 2006.

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A Signing Ceremony was held at a local hotel to mark the financial close of PKR 2,600 Million Syndicated Term Finance Facility arranged by Allied Bank Limited and United Bank Limited for Bosicor Pakistan Limited (BPL), the fifth largest oil refinery of Pakistan. The ceremony was presided over by Mr. Amir Abbassciy, Chairman, Bosicor Pakistan Limited; Mr. Atif R. Bokhari, President, United Bank Limited and Mr. Khalid Sherwani, President, Allied Bank Limited.

Allied Bank Limited and United Bank Limited, as Lead Advisors and Arrangers have successfully arranged a Syndicated Term Finance Facility of PKR 2,600 Million to finance the numerous expansion projects being undertaken by BPL. The Facility was co-arranged by Bank Alfalah Limited and Faysal Bank Limited with the remaining syndicate consisting of Saudi Pak Commercial Bank, KASB Bank Limited, Pak Oman Investment Company Limited, Soneri Bank Limited, Pak Libya Holding Company Limited and Habib Metropolitan Bank Limited.

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Allied Bank and Sui Northern Gas Pipelines Ltd. have signed an agreement to facilitate SNGPL gas bill payments through various Alternative Delivery Channels of ABL such as ATMs, Web Banking and Call Centre.

Going forward, SNGPL’s consumers will enjoy the convenience and excellence of ABL’s fully automated real-time solution for the settlement of their gas bills through the Bank’s vast network of over 700 branches in 350 cities across Pakistan.

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Pakistan State Oil (PSO) and Allied Bank Ltd. (ABL) have entered into an agreement to provide bulk online disbursement services to PSO’s contractors, throughout the entire branch network of ABL. Beneficiaries will be able to avail a fully automated real-time solution for the settlement of their payments through ABL.

Speaking on the occasion of this landmark deal, ABL’s Divisional Head of Financial Institutions & Cash Management, Mr. Rashid Maqsood Hamidi, said: “PSO has long been recognized for its bold and transformational business strategies. From ABL’s perspective, we are looking forward to collaborating with PSO on a wide range of transactional banking initiatives going forward, and are pleased to offer full access to ABL’s realtime online network, which is by far the largest such network in Pakistan

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Allied Bank Limited has selected TEMENOS T24 Core Banking Software Solution for implementation across its branches countrywide. TEMENOS is a software company based in Geneva, Switzerland and its core banking software is rated as the leading such product in the world with over 500 installed sites worldwide. The software T24 is considered as the most technologically advanced integrated banking system available worldwide which runs on all major technology platforms including Oracle and using Windows, UNIX, Linux, etc. In Pakistan, TEMENOS has already provided its software and services to State Bank of Pakistan Since 2000 in all its branches.

ABL believes in providing high-tech innovative solutions and value-added services to its customers and T24 has been found by the bank to be best suited for this purpose. T-24 will replace the existing branch-banking software used by ABL to automate and network its branches. ABL has selected the full suite of T24 modules covering all business function areas of the bank. It will enable the bank to bring to market new products very quickly and scale upwards both in terms of transaction volumes and customer services.

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Allied Bank and Sui Southern Gas Company Ltd, have signed an agreement to facilitate the customers of SSGC to pay their gas bills through various Alternative Delivery Channels of ABL such as ATMs, Web Banking and Call Centre.

As a result of this agreement consumers will enjoy a fully automated real-time solution for the settlement of their gas bills through ABL’s largest network of over 700 branches in 350 cities of Pakistan.

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Islamabad Electric Supply Company Limited (IESCO) for the first time will avail local currency financing from a consortium of local banks led by Allied Bank. The signing ceremony for the transaction was held at a local hotel in Islamabad. Khalid Sherwani, President, Allied Bank informed the participants that the facility arranged by Allied Bank is the largest ever local currency financing to a Power Distribution Company (DISCO).

Allied Bank has successfully advised and arranged a Syndicated Term Finance Facility of PKR. 2,500,000,000 for IESCO. The facility will be utilized for financing the expansion, up-gradation, rehabilitation and improvement of IESCO’s Distribution System. The facility has been co-arranged by Standard Chartered Bank and Bank Alfalah.

“Power sector is of utmost substance both economically and strategically. There has been momentous growth in the country’s demand for electricity. The total installed capacity of electricity generation is around 19,389 MW. The phenomenal increase in the local demand of electricity is attributable to the economic growth of the country as the double – digit growth of Large Scale Manufacturing has resulted in the higher demand of power in some industrial belts of Pakistan”, concluded Khalid Sherwani, President, Allied Bank.

The ceremony was presided over by Brig. Shahbaz Azam, Chief Executive IESCO who informed the participants that IESCO is the first electricity distribution company which has succeeded in obtaining license for the distribution and sale of electricity from NEPRA. It has 78 Grids having total capacity of 1,950 MVA and distributes the power through 581 feeders. The company was incorporated in Pakistan on 25th April, 1998 under the Companies Ordinance 1984.

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Karachi: January 19, 2006

Allied Bank launched its internet banking product Allied Direct at a local hotel. Mr. Awais Ahmad Khan Leghari, Federal Minister for Information Technology was the Chief Guest. Mr. Naeem Mukhtar, Chairman, Board of Directors, Allied Bank and a number of customers of the Bank and elite of the city attended the ceremony.

Allied Direct aims to offer the ultimate banking convenience to the customers via the internet. Customers can access their bank account to transfer funds, check their balances, get their account statements, place request for cheque books and get transaction alerts. Allied Bank is the first bank in Pakistan to offer this service on a large scale to all its customers at more than 740 branches in over 350 cities, towns and villages across Pakistan.

The new management of Allied Bank has been striving to provide quality services and products at par with those provided by the international banks and have pioneered technological advances for the convenience of customers to deliver on its slogan Every Branch Your Branch. "With the availability of Allied Direct, you can access your account information from anywhere in the world with internet access. 24 hour, 7 days a week - even on holidays", the President concluded.

"Internet banking is going to add a new dimension to how our customers can access their accounts and do banking transactions. It is a step forward towards making Allied Bank a technology-driven world class financial institution” said Khalid Sherwani, President, Allied Bank. He added "the availability of this new delivery channel will help pave way for greater customer satisfaction – a goal we strive for every day".

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Lahore: Allied Bank Ltd. (ABL) and Worldcall Communications Ltd. have entered into an agreement for Cash Management services all across Pakistan. Speaking on the occasion of the signing of the agreement, ABL's President Mr. Khalid Sherwani said "We are pleased to provide cash management services to Worldcall Communications, as our two institutions drive synergies across the extensive online network of ABL. Worldcall is one of the pioneering institutions in the country, providing cutting-edge communications and technology related services all over Pakistan."

ABL has the largest real-time online branch network in the country, consisting of 735 branches in over 250 cities and towns. The Bank has embarked on an ambitious strategy based on the twin foundations of services excellence and technological superiority, which will underpin its cash management and transactional banking businesses going forward.

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In a landmark deal, Allied Bank signed an agreement with Nimbus Sports as co-sponsors to the India-Pakistan Series 2006. The deal marks Allied Bank’s entry into the sponsorship of global sporting event. With this deal, the sponsor family of the India-Pakistan Series 2006 created by Nimbus Sport is complete with Allianz being the title sponsor for the test series, Hutch as the title sponsor for the ODIs and Grasim Cement being the second co-sponsor at the series. The series has been a major cricketing event in the sub-continent since its inception in 1952. “The decision to sponsor the India-Pakistan 2006 Series was taken with the knowledge of the passion for the game shared by both the nations and our intention to be an active part of the same. Cricket for long has been a premier sport in Pakistan and it’s time that Pakistani companies open up to capitalizing on this opportunity to establish its brand globally”, said Khalid Sherwani, President Allied Bank. Talking about bringing a Pakistani firm into the series sponsor family, Mr. Digvijay Singh, CEO, Nimbus Sport International said, “Allied Bank has beaten Indian banking sponsors to the line on this India Pakistan series - one of 2006's most important events in the cricket calendar. Nimbus Sport is delighted to welcome Allied Bank to the sponsor family. " Allied Bank is taking very keen interest in the promotion of sports and has now as a matter of policy started to sponsor different sports events at the national /international level. Internationally Allied Bank sponsored Tennis Championship recently in which a team from India also participated.

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The Bank demonstrated excellent performance in all key areas of operations in the year 2005. The Profit After Tax grew by 16 times to over Rs 3 billion. The operating profit during 2005 was Rs 5.5 billion, reflecting a growth of 164% over last year. The Advances, Deposits and Assets of the Bank grew by 71%, 28% and 24% respectively. The NPL portfolio reduced by 18% and Net NPLs to Net Loans dropped to 3.6% from 8.3%.

With the largest on-line network, sound Balance Sheet footing and comfortable Capital Adequacy Ratio, Allied Bank is well positioned to achieve global banking standards of excellence.

Allied Bank Limited formally listed on Stock Exchange

In 1974 the Government of Pakistan nationalized all domestic financial institutions. As a result shares of all Nationalized Banks were vested with the Government and these shares seized to be quoted at Stock Exchanges of the country.

In September 1991, ABL was reconstituted as an institution owned by the employees. The employees purchased 26% of the shares of ABL. The 2^nd lot of 25% equity was further purchased by the Employees in August 1993. State Bank of Pakistan had barred the sale of shares to non-employees for a period of five years. After lapse of five years sale and purchase of ABL shares was allowed amongst the employees only.

In August 2004 as a result of capital reconstruction, the Bank’s ownership was transferred to a consortium comprising of Ibrahim Leasing Limited and Ibrahim Group.

In May 2005 Ibrahim Leasing Limited was amalgamated by transfer to and vested in with and into Allied Bank Limited. ILL shareholders were issued ABL shares in lieu of the ILL shares held by them. Application for the listing of ABL shares in all the Stock Exchange Companies of Pakistan was made. ABL was formally listed and trading of the shares of the Bank commenced w.e.f. the following dates.

Islamabad Stock Exchange 8^th August 2005

Lahore Stock Exchange 10^th August 2005

Karachi Stock Exchange 17^th August 2005.

Now all shareholders of Allied Bank Limited can trade in the shares of the Bank at their free will.

Allied Bank Sponsors First South Asian Accounting Summit

Allied Bank was the main sponsor of the First South Asian Accounting Summit, which was held in Karachi.

The summit was organized by the Institute of Chartered Accountants of Pakistan (ICAP) and was held at the Pearl Continental Hotel and Hotel Marriott.

Sir David Tweedie, Chairman, International Accounting Standards Board, was the keynote speaker at the summit which was attended by a large number of high profile local and foreign delegates comprising Presidents, CEOs, COOs, CFOs and senior managers of large national and multinational companies, stock exchanges, chambers of commerce and leading figures from trade and industry.

The summit provided an opportunity to accounts and finance professionals to interact with global experts and discuss the latest developments in accounting standards with special relevance to Pakistan.

The Summit was another milestone in the series of sponsorships undertaken by Allied Bank recently.

ABL’s Profitability grows to Rs.6 billion

The Board of Directors approved the accounts for nine months ended September 30, 2006.

The Bank has posted an operating profit of Rs.6.0 billion, reflecting a growth of 59 percent as compared to the corresponding period. The profit after tax was Rs.3.4 billion, registering a growth of 65% from Rs.2.1 billion during the same period last year. Consequently, the Earning per Share jumped to Rs.7.53 from Rs.4.57.

The deposits of the Bank grew by 23 percent to Rs.198 billion, while loan book increased to Rs.144 billion by posting a growth of 20 percent over Dec 2005. The NPLs decreased by 4 percent and the net NPLs to net loans ratio dropped to 2.3% from 3.6%. The income to cost ratio improved to 2.6:1 from 2.2:1 in the corresponding period. The Capital and Reserves of the Bank increased by 24 percent to Rs 16.7 billion.

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