COMPANY HISTORY

     In 1986 an opportunity to reinforce Allied Banking Corporation's (ABC) presence in the countryside presented itself when the owners of the First Malayan Developmental Bank (FMDB) decided to sell the company. 

   Based in Calapan, Oriental Mindoro, FMDB had nine branches spread over the coastal towns of the province and in selected municipalities of Batangas and Laguna. 

   When it became a fully-owned subsidiary of ABC, FMDB was renamed First Allied Development Bank to highlight the change in ownership. In 1989, after obtaining the license to operate as a savings bank, its name was changed to First Allied Savings Bank. A year later, it was re-christened ALLIED SAVINGS BANK (ASB) to create greater market awareness while heralding its close ties with its mother company. 

   ASB had its roots in Southern Luzon because it believes that progress would move south of Metro Manila. And soon it did, with ASB benefiting from the business upsurge. 

   In addition to its Head Office at the Allied Bank Center in Makati City, ASB now has twenty seven (27) branches throughout Metro Manila and Southern Tagalog and Northern Tagalog. Its paid-up capital has reached P931 million, a far cry from its initial capitalization of P5 million.

   From a staff complement of only 54, ASB now has 200 officers and staff. One distinguishing feature of ASB operating philosophy is that it seeks to employ as many local residents as possible to ensure optimum rapport with the local communities it serves.

   ASB also hopes to raise its standing among domestic savings banks through its “neighborly and personalized client service.” It has completed its system enhancement program and has undergone necessary technical upgrades to improve its services. 

   Today, ASB ranks 18th in terms of total assets and deposits among the country’s seventy six (76) savings banks. It also ranks twelfth (12th) in terms of capital and has a solvency ratio of thirty-nine  (39%).

   With the full support of its Board of Directors, its progressive management and dedicated officers and staff, ALLIED SAVINGS BANK works hard to maintain its stature as one of the country’s leading savings bank.