Amalgamated Investment Bancorporation (AIB) traces its beginnings from Amalgamated Allied Holdings Inc., an investment holding company that was incorporated on September 16, 1997 by a consortium of Filipino and Singaporean investors. After obtaining a license to operate as an investment house (Philippine equivalent of an investment bank) on December 10, 1997, the holding company was immediately transformed into an investment bank and its name changed to Amalgamated Investment Bancorporation. AIB started commercial operations in January 1998.