Allied Banking Corporation (ABC) is a universal bank incorporated on April 11, 1977. It listed its shares at the Philippine Stock Exchange on June 4, 1982. ABC and its subsidiaries and affiliates are engaged in all aspects of banking, financing and leasing to personal, commercial, corporate and institutional clients through a network of 312 (as of December 31, 2008) local and international branches and offices. ABC's products and services include deposit taking, lending and related services, domestic and foreign fund transfers, treasury, foreign exchange and trust services. In addition, ABC is licensed to enter into regular financial derivatives as a means of reducing and managing ABC's and its customers' foreign exchange exposure. ABC's subsidiaries and associates are composed of Allied Savings Bank, Allied Bank Philippines (UK) Plc., Allied Commercial Bank, Allied Banking Corporation (Hong Kong) Limited, Oceanic Holding (BVI) Ltd., Allied Forex Corporation, Allied Leasing and Finance Corporation, and PNB Life Insurance, Inc. (formerly New York Life Insurance (Philippines), Inc.) Source: SEC Form 17-A (2008)