 But, due to the separation of East Pakistan, 51 branches were lost by the bank which was a big loss.The Senior Executives Khadim Hussain Siddiqui and Inam Elahi were taken as prisoner of wars by India occupied Bangladesh

Under the Nationalization Act of 1974, 14 scheduled banks were taken over by the government.Australasia Bank's board of directors was dissolved and the bank was renamed as Allied Bank of Pakistan Limited.