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Daily Dispatches: ICBC takes over Thai bank

The Chinese bank ICBC, the world’s largest bank by market value, said Wednesday that it had obtained all the necessary governmental and regulatory approvals to complete the acquisition of all issued shares of Thailand’s ACL Bank. (China.org.cn)

Standard Chartered was ordered by Singapore’s High Court to pay Fermin Aldabe for wrongful dismissal after the lender’s global senior risk manager said he would resign on his first day on the job. (Bloomberg)

Change is coming in a big way at DBS Group Holdings, as chief executive Piyush Gupta, just five months into the job, cracks the whip at South-east Asia’s largest lender. (Asia One)

President Barack Obama on Thursday urged a Wall Street audience that included Lloyd Blankfein of Goldman Sachs to stop opposing financial reform, arguing it would only hurt banks “bilking people” out of money. (Financial Times)

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