On August 19, 1977, it was authorized to operate an expanded foreign currency deposit unit (FCDU) and in December 1981 granted to operate as expanded commercial bank or universal bank.

As of December 31, 2007, Allied Bank was the 9th largest private domestic commercial bank in the country in terms of total deposits, and the 10th largest in terms of net worth.

Representative offices were established in Australia, Germany, Italy, Japan, Singapore, and Spain.

On December 7, 2007, the Supreme Court of the Philippines affirmed a judgment dismissing the state's sequestration of Lucio Tan's companies: "There can be no question that indeed, petitioner's (the government's) orders of sequestration are void and have no legal effect."

Florencia Tarriela became chairman and Omar Byron Mier became the chief executive of the merged bank.