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Strategic Management Case Study

Allied Bank Limited



Presented by:

Rizwan Qamar

M. Phil Fellow at Faculty of Contemorary Studies!

"ational #efence $ni%ersity!

&slamabad



'utline

• INTRODUCTION • Pakistani Banking &ndustry• &ndustry '%er%iew• ABL(s &ntroduction• ABL )oday

• Mission, Vision Statements• *+isting• ,hy change-• Proosed

• INPUT STAGE• Internal Assessment

• Ma Locating ABL(s 'erations• Sie of Financial Position•

&n%estments• Pro/t and Loss Comosition• 0'* 1 0'&• Shareholder(s e2uity• Cash Flows Analysis• Pro/tability Analysis• Strengths and ,eakness•

&F* Matri+

• External Assessment• &nterest 0ates Comarison• List of Cometitors• *+ternal &ndustry Comarison• *F* Matri+• Cometiti%e Pro/le Matri+• Porter3s Fi%e Forces Model

• MATCING STAGE• S,') Matri+• BC4 Matri+• SPAC* Matri+• )he &* matri+• 4rand Strategy Matri+•

Strategy Analysis• DECISION STAGE

• 5SPM• Possible Alternati%e Strategies

• 0ecommendations• 0eferences• 5 1 A



Pakistani Banking &ndustryAt resent there are 67 scheduled banks! )he Commercial Banks comrise of 8

nationalied banks!8 ri%atied banks! 79ri%ate sector banks! 76 foreign banks! ro%incial scheduled banks! and 6secialied banks. )here are 7; Listed and 6 unlisted Banks

Banking &ndustry still remains the mostfa%orite in Pakistan#omestic Banks are in surlus li2uidity )he Largest 9 local Banks <Also knows as

Big=9> includes! ?BL!$BL! MCB! ABL and



Pakistan Banking &ndustry inBrief



ABL &ntroductionAllie! "an# with its 0egistered '@ces in arachi andLahore is one of the largest banks within the country &t has 8 branches connected to an online network.&t was the /rst Muslim Bank *stablished in Pakistan beforePartition <7D6> with the name of Australasia Bank at

Lahore.Australasia Bank was the only fully functional Muslim Bankon Pakistan territory on 76th AugustAt the time of indeendence all the branches in &ndia!<Amritsar! Batala! Ealandhar! Ludhaina! #elhi and Angra

<Agra>> were closed down."ew Branches were oened in arachi! 0awalindi!Peshawar! Sialkot! Sargodha! Ehang! 4uranwala and asurBy the end of 7D; it had 77 branches but unfortunately itlost 97 branches in the searation of *ast Pakistan which

became Bangladesh.



ABL &ntroductionGGGGGG.Cont(d )he bank did well in desite losing lot of its assets and by

the end of 7D;8 the bank had 7H branches in ,estPakistan&n 7D;6! the Board of #irectors of Australasia Bank was

dissol%ed and the bank was renamed as Allied Bank of

Pakistan.Same year Sarhad Bank Ltd! Lahore Commercial Bank Ltd

and Pak Bank Ltd were also merged in itFrom 7D;6=D7 <"ationaliation>! bank made a raid

rogress and branches network increased to ;6 with three

branches in $ As a result of ri%atiation in Setember 7DD7! Allied Bank

entered in a new hase of its history! as the worl!$s %rst&an# to &e owne! an! mana'e! &( its em)lo(ees

&n August 6 the Bank was restructured and the

ownershi was transferred to &brahim 4rou



ABL )oday"ow a days ABL has the largest network of online branches in Pakistan

which counts o%er and located in almost 79 cities and towns. )he bank oIers a full range of retail! commercial and cororate

banking ser%ices with a focus on ser%ice deli%ery through technology.Additionally! it also ro%ides general banking ser%ices to agricultural!

industrial and indi%idual customers throughout Pakistan.

Almost DJ of bank3s deosit base is comosed of deosits from theurban areas. )he bank3s fundamental strength lies in its strong lending caability! as

well as ro%iding a %ariety of /nancial ser%ices )he bank also conducts international oerations in $ whereby it

caters to the needs of the bank3s domestic cororate and other

customers in /nancing imort and e+ort transactions.ABL3s roducts include foreign letters of credit! guarantees!

remittances! accetances and collections.



)odayGGGGGGGGGGCont(dABL has highest number of A)Ms! which increased to H7

at #ecember 87! 77 co%ering 769K cities whereby!making it the widest geograhical co%erage for A)M=based ser%ice amongst all the banks in Pakistan.

&t has a comletely online network of 8 branches.

)his accounts for 7J of the market share amongst theonline branches in the country.

Allied Bank has also been adudged as best bank ofD by CFA Association of Pakistan in its ;th Annual*+cellence Awards.&t has also been ranked 7st in Pakistan and Dth globally

by the Banker Magaine! $ for yielding best ro/ts oncaital.



Financial ?ighlights in 77



ABL VISION

A*t+al Pro)ose!

)o become a dynamic and e@cientbank ro%iding integrated solutions inorder to be the /rst choice bank for the

customersN

)o become a lea!in' and e@cientinan*ial Instit+tion ro%idingintegrated solutions in order to be the

/rst choice of customersN



ABL(s Mission Statement(Actual)

)o ro%ide %alue added ser%ices to ourcustomers

)o ro%ide high tech inno%ati%e solutions tomeet customers( re2uirements )o create sustainable %alue through growth!

e@ciency and di%ersity for all stakeholders

)o ro%ide a challenging work en%ironmentand reward dedicated team membersaccording to their abilities and erformance )o lay a roacti%e role in contributing

towards the society



Characteristics of ABL(s Mission

C-ara*teristi*s o. Mission Statement A"/ MissionStatement

Broad in scoe Oes

Less than 9 words Oes

&nsiring Oes

&dentify the utility of a /rm(s roduct "o

0e%eal that a /rm is socially resonsible Oes

0e%eal that the /rm is en%ironmentally friendly "o

&nclude nine comonents of mission statements "o

*nduring "o



Comonents of ABL(s Mission

Com)onents o. Mission Statement A"/ Mission

1) Customer Oes

2) Product "o

3) Market "o

4) Technology Oes

5) Concern for survival , groth and !rofita"ility Oes

#) Philoso!hy Oes

$) %elf Conce!t "o

&) Concern for !u"lic 'mage Oes

() Concern for em!loyee Oes



ABL(s Mission Statement<Proosed>

“We are committed to provide with

efcient high tech innovativeFinancial Solutions to our customersin Pakistan and create sustainable

value through growth, efcienc anddiversit !or all stakeholders" We provide a challenging workenvironment and reward according

to their abilities and per!ormance



In)+t Sta'e&nternal Assessment

&nternal Factor *%aluation <&F*> Matri+

*+ternal Assessment

*+ternal Factor *%aluation <*F*> Matri+

Cometiti%e Pro/le Matri+ <CPM>



INTERNA/ ASSESSMENT



Ma) S-owin' O)erations o. A"/in Pa#istan



Internal Assessment



Internal Assessment

In*ome Cate'or( 0122 0121

&nterest &ncome 9!7;7!8D !9H9!66

Fee! Commission and Brokerage&ncome !;8!HH !6D7!

#i%idend &ncome !H7!7 7!77!;&ncome from dealing in ForeignCurrencies H68!9 67!96

Total333333333452,006,11

206,785,15

9

Re:en+e Di:isions

P0 (



Re:en+e Di:isions

&nterest &ncome

Fee! Commision and Brokrage &ncome

#i%idend &ncome

&ncome from dealing in Foreign Currencies

9!!

7!!

79!!

!!

9!!

8!!

77

7



Internal AssessmentGrowt- in Re:en+e Di:isions

0122 ;<=

In*ome Cate'or( Growt-

&nterest &ncome

77.96

7

Fee! Commission andBrokerage &ncome

D.H78;D

#i%idend &ncome

78D.;H6

&ncome from dealing inForeign Currencies

98.H6D7

6H

7776

Growt- ;<=



Internal Assessment

STRENGTS ABL is the /rst Muslim Bank of the world! which is owned and

managed by its own emloys.Strength is the high moti%ation of emloyees to their work because

they know that what so e%er they do! it will be in their own bene/t.Salaries are %ery reasonable! so the emloyees are not /nancially

disturbed and they de%ote their sel%es fully to their work. )hey ha%e wide area network in all o%er the Pakistan! so that they

co%er a lot of ortion of cash transactions and make customersatis/ed. )he bank3s fundamental strength lies in its strong lending caability!

as well as ro%iding a %ariety of /nancial ser%icesABL has highest number of A)Ms! which increased to H7 at

#ecember 87! 77 <76J of the industryABL co%ers 769K cities whereby! making it the widest geograhical

co%erage for A)M=based ser%ice amongst all the banks in Pakistan.&t has a comletely online network of 8 branches. )his accounts for

7J of the market share amongst the online branches in the country



Internal Assessment

STRENGTS333344 Cont$!&t has also been ranked 7st in Pakistan and Dth globally by the Banker

Magaine! $ for yielding best ro/ts on caital.#eosits of the bank grew by 7;.J and stood at 0s 8;!96 million as

at March 87! 77 comared to deosits of 0s 87;!;6 million at March87! 7

4ross Ad%ances! keeing in line with rudent lending strategy were 0s9;!6D million as at March 87! 77! a growth of ;J o%er the grossad%ances of 0s 6!89D million as at March 87! 7.

)he balance sheet sie stands at 0s 69!8 million as at March 87!77! while the e2uity of the Bank as at March 87! 77 registered agrowth of 8.;J o%er March 87! 7 le%el to reach 0s 8D!96; million.Pro/t before ta+ of ABL increased by 68.9J to reach 0s 8!97 million

during three months eriod ended March 87! 77 as comared to 0s!H8 million in the corresonding eriod of re%ious year.Pro/t after ta+ also rose by 67.8J to 0s !977 million comared to 0s

7!;;; million in the corresonding eriod.



Internal Assessment

>EA?NESS"o entertainment facilities are a%ailable in the Bank when

customer goes to the Bank and wait for a longer time. )hesefacilities can be the newsaer! magaines! )Q etc. Ad%ertisement of ABL is not such goods as of other banks.

'utlook of the ABL branches is not attracti%e to the eole. )he non=interest e+enses of the bank increased by .;J

due to the increase in all the e+enses including theadministrati%e e+enses! ro%isions and other charges. )he cost of funding also increased by HJ.

)he earning assets to deosits ratio has declined.Less staI in branches which leads to a long wait for their

turn of customers."onerforming loans to the 4o%t. sector due to 4o%t.

inRuence on the bank.

)here is no consumer banking ser%ices oIered by the bank.



Internal a*tor E:al+ation ;IE= Matrix

?e( S+**ess a*tors >ei'-t

Rate >ei'-te!

S*ore

STRENGTS

Largest 'nline braches network .D 6 .8H

Largest "ation=wide A)M network .H 6 .6

Strong lending ability . 8 .6

0anked 7st in Pakistan and Dth globally bythe Banker Magaine! $ .6 8 .7

?igher emloyee moti%ation incomarison with Cometitors .9 6 .

'%er 7;J growth in #eosits where as

industry stands at 78J .H 8 .7

Pro/t after ta+ has increased by 67.8J inlast year

.H

6 .6

*mloyee training and de%eloment .9 8 .79

ABL co%ers HJ of the Country3s urban

area

.

6 .8



Internal a*tor E:al+ation ;IE= Matrix


Rate >ei'-te!

S*ore

>EA?NESS

"o entertainment facility for thecustomers

.9

7 .9

Qery Less Ad%ertisement .9 .7"o consumer banking ser%ices oIered bythe bank

.;

.76

Limited co%erage of rural areas <'nly76J>

.6

7 .6

'utlook of the branches .8 .H?igh non=erforming loans . .7H

)he cost of funding also increased by HJ. .8 7 .8

Less customer ser%ice care .6 .

Total3333333334 2411 0495

&F* Matri+ Score of ABL is .8 which is higher than the bench

mark of .9



E@TERNA/ ASSESSMENT



External Assessment



External Assessment

/ist o. Maor Com)etitors

A$%&s 'aor ompetitors includes*

?abib Bank Limited <?BL>$nited Bank Limited <$BL>MCB Bank Limited <MCB>

"ational Bank of Pakistan <"BP>



External Assessment

External In!+str( Com)arisonABL has 78J share of the A)M Market7J market share among the online branches )he increase in the net interest income of the comany is

higher than the a%erage for industry! which was J.

#eosits grew by almost 78J! which e2uals the industrya%erage of the banking sector )he ad%ances grew by ;.9 J as comared to FOD! which was

way higher than the industry a%erage of ust 7J.Allied Bank3s deosits account for ;.8J of the total deosits of

all the banks whereas its ad%ances account for ;.HJ.ABL3s total assets constitute H.HJ of the total assets of thebanking industry.#esite of economic issues in the country ABL has been able

to maintain its ro/tability.



External Assessment

OPPORTUNITIES )he olicies of the new go%ernment to ulift the economy and

ursue /nancial sector reforms are e+ected to yield ositi%eresults in the banking industry of the country.As a result of the diIerent stes taken by the 4o%ernment

regarding the betterment of the economy! small borrowers areattracted to get the /nancing and start small businesses.So! the ABL has an oortunity to attract the customers by

gi%ing them attracti%e schemes. )hey ha%e wide area network in all o%er the Pakistan! if ABL can

make it ossible the fast deli%ery of fund from abroad through

online banking! it can co%er the maor market of Pakistan whichstill is caturing by ?undi.#i%ersi/cation towards &slamic Banking Ser%icesPro%ide Pri%ileged or Preference banking like MCB and $BLMicro Finance to the formers and house hold &ndustry

SM* Financing



External Assessment

TREATSFirst threat is that of olitical inRuence. )hree boards of directors are

of go%ernment. So that they can inRuence on the decisions of theABL. )he biggest threat in the banking sector is the continuous downfall

of the country(s economy since the last few years."ew Pri%ates Bank coed with emerging new )echnology of &) and

with huge in%estments.&ncrease in the withholding ta+ by the 4o%t. on transactions. )he higher discount rates oIered by the SBP )he Law and order situation disturb the economic situation and

hence the Banking &ndustryPower shortage brutally hinders the erformance of &ndustrial sector

which get loans from Banks. )ight monetary olicy and high interest of 79J by the SBP reduce

the interest of eole to get e+ensi%e loans from Banks. )he high inRation rate due to de/cit /nancing by the 4o%t. is also a

big threat to ABL.



External a*tor E:al+ation ;EE= Matrix

?e( S+**ess a*tors>ei'

-tRate >ei'-t

e!S*ore

OPPORTUNITIES

4o%t. reforms to u lift economy .7 6 .6

Can Cature ?undi market by ro%idingfast cash transfer .; 8 .7

#i%ersi/cation towards &slamic BankingSer%ices .H 6 .6

Pro%ide Pri%ileged or Preference bankinglike MCB and $BL .; 8 .

Micro Finance to the farmers and household &ndustry .; 8 .7

SM* Financing .9 6 .

Personal loans and consumer banking .6 8 .7

*+ansion in the rural area of the country .H 6 .6&nternational e+ ansion throu h oint



External a*tor E:al+ation ;EE= Matrix


Rate >ei'-te!

S*ore

TREATS

Political inRuence on the Bank(s acti%ities .; 7 .;

Continuous downfall of the economy . .7H

)he higher discount rates oIered by theSBP .9 7 .9

Law 1 order situation damaging economicacti%ities . .7H

)ight monetary olicy and high interest of

79J by the SBP .H .7 )he high inRation rate due to de/cit/nancing by the 4o%t. .6 7 .6

Power shortage brutally hinders theerformance of &ndustrial sector .H .7*F* Matri+ Score of ABL is .HH which is higher than the bench

mark of .9

Com)etiti:e Pro%le Matrix ;CPM=



Com)etiti:e Pro%le Matrix ;CPM=

Com)etitors "/ A"/ MC"

Criti*al S+**essa*tors > Rate >S Rate >S Rate >S

Financial Position .7H 6 .H6 6 .H6 6 .H6

Ser%ice 5uality .76 8 .6 8 .6 8 .6

Market Share .D 6 .8H .7 8 .;

Customer Loyalty .7 . 6 .6 6 .6Bank Charges Fees .7 .6 6 .6 8 .8H

Ad%ertising andPromotion

.8 .6 .7H .7H

,ork force moti%ation .; .76 8 .7 8 .7

'nlineA)M Ser%ices .77 8 .88 6 .66 6 .66

4eograhic Co%erage .78 6 .9 8 .8D 6 .9

Total3333344 2411 5418 5450 54B0

)he CPM %alue of ABL is 8.8 which shows good cometiti%e

osition



Porter(s Fi%e Forces Model



External Assessment

Forces &ntensity

2 0i%alry amongcometing /rms ?igh

0 *ntry of "ewCometitor

Low

5 #e%eloment of

Substitute Products

Low

B Bargaining Powers ofSuliers

Low

7 Bargaining Power ofConsumers

?igh

Porter$si:eor*esMo!el



Mat*-in' Sta'eS>OT Matrix

"CG Matrix

SPACE

IE Matrix

G S Matrix

S>OTSTRENGTS >EA?NESS



S>OT

Matrix

7. Strong lendingosition

. Largest onlinebranches

8. Largest A)M network6. Solid Financial

osition9. Fastest growth rateH. Moti%ated workforce;. ?igh ro/t Margin

7. "o entertainment. "on erforming

loans8. &ncreasing lending

cost6. $rban area focus

only9. "o branch

attracti%enessH. "o consumer

Banking;. "o Customer Care

System

OPPORTUNITIES7. Micro Financing. &slamic Banking

8. 4o%t. reliefs for*conomy

6. SM* Sector9. Preference BankingH. 0ural economy

SO STRATEGIES7. $se Strong /nancial

and lending osition

to cature SM* andMicro Financing <S7!S! SH! '7! '6>

. $se its network for&slamic! referencebanking <S! S8. S9!

'! '9! 'H>

>O STRATEGIES7. )ake oIer any &slamic

Bank and reduce and

lending "PL <,! ,8!'! '7>

. Bene/t from 4o%t. reliefand start focus on SM*!Micro and referencebanking with attracti%esetu <,7! ,9! ,H! '8!

'6! >9>



BC4 Matri+ <)able>

Re:en+e Di:ision Re:en+es<

Re:en+es

<Mar#e

tS-are

<Growt- Rate

&nterest &ncome 9!7;7!8D.HD

878.;J

77.967

Fee! Commission andBrokerage &ncome !;8!HH

D.;66D77

79.HJ D.H78;D

#i%idend &ncome !H7!7D.9H6D

7;.8J 78D.;H6

Total87!H!

77J

P0 (



BC4 Matri+

0elati%e market share osition in theindustry?igh 7. Medium .9 Low .?

i gh K: C

M e d i

um C

L ow

= 8

& n d u s t r y

gr ow

t h

r at e

InterestIn*ome

#i%idend

&ncome

Fee!Commissi

on

Boston Consulting 4rou <BC4> Matri+



M a r # e t G r

o w t -

Boston Consulting 4rou <BC4> Matri+

Relati:e Mar#et S-are

S)a*e Matrix ;S*ore Ta&le=



S)a*e Matrix ;S*ore Ta&le=

inan*ial Stren't- Ratin'

0eturn on Asset 8

Le%erage#ebt

"et &ncome 8

*arnings Per Share 6

"et Pro/t Margin

Total 76

In!+str( Stren't- Ratin'

4rowth Potential 8

Financial Stability 8

*ase of *ntry in theindustry

8

0esource $tiliation 9

Pro/t Potential

Total 7H

En:ironmentalSta&ilit(

Ratin'

&nRation 0ate =6 )echnologicalChanges

=8

Cometiti%e Pressure =6

Barriers of *ntry =

SBP Policy =8

Total =7HCom)etiti:eA!:anta'e

Ratin'

Market Share =7

Ser%ice 5uality =Customer Loyalty =6

)echnologicalnowledge

=

'nline "etworkA)MS =6

Total 25

CA 5421 0461 1471



SPAC* Matri+FS

+6

+1

+5

+4

+3

+2

-6

-5

-4

-3

-2

-1-6 -5 -4 -3 -2 -1 +1 +2 +3 +4 +5 +6

IS

Conservative Aggressive

Defensive Competitive

(axis

F ES 0491 5401 14B1

ES

CA

)h & t l * t l M t i



)he &nternal=*+ternal Matri+

&F* Score is .8 and *F* Score is .HH hence ABL lies in 5uadrant Q

"ote: &* Matri+ is constructed on the basis of &F* and *F* Score only due to less a%ailable date



4rand Strategy Matri+

5uadrant 75uadrant

5uadrant 8 5uadrant 6

StrongCometiti%e

Position

Slow Market 4rowth

A"/

0aid Market 4rowth

,eakCometiti%e

Position

&* M t i



STRATEG ANA/SIS

M

a t r i x A n a l ( s i s

Alternati:eStrate'ies

SPACE

"CGINT "HC

omDi: GS Co+n

ts

Forward &ntegration T T

Backward &ntegration T 7

?oriontal &ntegration T T

Market Penetration T T T T 6

Mar#et

De:elo)ment

@ @ @ @ @ @ 6

Pro!+*tDe:elo)ment

@ @ @ @ @ @ 6

#i%ersi/cation T T T T 6

Eoint Qenture T 70etrenchment T 7

#i%estiture T 7

Li2uidation

Mergers 1 Ac2uisition T 7

&* Matri+



De*ision Sta'eQ+antitati:e Strate'i* Plannin'

MatrixAlternati:e Strate'ies

Re*ommen!ations

Q+antitati:e Strate'i* Plannin' Matrix



Q+antitati:e Strate'i* Plannin' Matrix

?e( a*tors >ei'-t Strate'(I Strate'(II

INTERNA/ ACTORS AS TAS AS TAS4o%t. &nter%ention in bank(s matters .7 6. .6 8. .8H

?igh 4rowth rate .76 6. .9H 8. .6

)rained and moti%ated work force .D 8. .; 6. .8H

Strong /nancial and lending

caability .77 . . 8. .88Largest online and A)M networks .7 6. .6 . .

E@TERNA/ ACTORS

SBP Monetary Policy and0egulations . 8. .6 . .7H

?igh &nRation 0ate .H 8. .7 6. .6

Power Crisis in the country .7 6. .6 8. .8

Law and 'rder Situation .; 8. .7 . .76

?igh discount rates and lendingrestrictions

. 6. .8 . .7HLess sa%in s of the eo le

Possible Alternati%e



Strategies

Strate'(I ;Pro!+*t De:elo)ment=&ntroduce new ser%ices within e+isting set u of the bankPro%ide consumer Banking ser%ices )ake initiati%e of &slamic BankingFast and inno%ati%e 1 secure methods of Cash transfer

#i%ersify and enhance Bank AC tyes and other ser%icesStrate'(II ;Mar#et De:elo)ment=*+and banks oerations geograhicallyBanking ser%ices may be ro%ided in rural areas )hose customers must be identi/ed and attracted who

ha%e caacity but ne%er used bank ser%icesFocus on those areas which are still ignorant by other

banks

Possible Alternati%e Strategies



Possible Alternati%e StrategiesGG.Cont(d

Strategy=& has 8.68 )otal Attracti%enessScore <)AS>And Strategy=&& has .; )ASSo Strategy=& is recommended for the Bank

according to 5SPMStrategy=& is the roduct de%eloment.

?ence Bank should di%ersify its ser%icesand introduce new inno%ati%e! secure andhigh tech methods of Financial )ransitionswith the con%enience of the customers

SM* sector may be focused more for



0ecommendation

&nternal 1 *+ternal Audits <concet of /nancial disciline!accountability! good cororate go%ernance! rofessionalism andimartiality>Communications Skills. "o ambiguity should be left. Clear and

comrehensi%e instructions at all le%els of hierarchy )ransarency in all matters esecially in /nancing! lending!

reco%ery etc.Lending focus must be on ri%ate sector instead of ublic sectorSM* sector must be gi%en riority in all /nancial mattersAggressi%e marketing strategies in retail and commercial

banking

&nstitutionaliation of ?uman 0esource Management <best manshould be osted to best assignment! refreshing courses!seminar on emerging banking and /nancial roblems etc.>.?umanistic administration! because human is sureme than

any entity <romotion olicies! award 1 reward>.

0ecommendationGGGG..



0ecommendationGGGG..Cont(d

0esearch and #e%eloment facilities <#omestic marketresearch! economic analysis! strategic insight of maoreconomic and /nancial accords! international marketsknowledge! rigorous lanning and de%eloment! loss 1re%ention mechanism>

)here should be central comliant cell in ABL in order toreduce eole(s comlaints and foster the ratios ofroducti%ity.Commonness of *=commerce with the hel of &nternet

banking should allow Rourishing in all branches.

Scoe of &n%estment Banking is %ery much there andbright as said by /nance minister. Concrete eIortsshould be made to initiate in%estment=bankingoerations.4eneral working conditions ought to be imro%ed.



0eferences

#a%id! Fred! 0 Strategic ManagementN Concets andCasesU 7th and 78th *dition. Prentice ?all&nternational D.www.abl.com.k <Accessed on May 76! 7>htt:

www.mediamonitors.netbioakbymuhkhan.html <Accessed on May 76! 7>www.sb.go%.k <Accessed on May 76! 7>0etrie%ed May 79! 7 www.yahoo.comimages

0etrie%ed May 79! 7 htt:www.google.com.kimgh-hlVen1tabVwiwww./nance.go%.k <0etrie%ed May 79! 7> ABL 0etrie%ed May 79! 7 htt:

en.wikiedia.orgwikiAlliedWBankWLimited

http://www.abl.com.pk/

http://www.mediamonitors.net/biopakbymuhkhan.html


http://www.sbp.gov.pk/

http://www.yahoo.com/images

http://www.google.com.pk/imghp?hl=en&tab=wi


http://www.finance.gov.pk/

http://en.wikipedia.org/wiki/Allied_Bank_Limited




http://www.finance.gov.pk/



http://www.yahoo.com/images

http://www.sbp.gov.pk/



http://www.abl.com.pk/



5uestions and Further#iscussion -



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