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Daily Dispatches: Agricultural Bank of China’s listing could be world’s largest IPO

Agricultural Bank of China, the last of China’s big four state-run lenders to be listed, filed its listing application with the Hong Kong stock exchange Tuesday, officially kicking off the process for its US$20bn to US$30bn dual listing in Shanghai and Hong Kong, people familiar with the situation said. Agricultural Bank’s IPO could be the world’s largest ever, data provider Dealogic said. (Wall Street Journal)

Standard Chartered, the emerging markets bank, has made a strong start to the year, fighting off increased pressure on margins and greater competition to achieve buoyant profit and income growth in the first quarter. (Financial Times)

Westpac posted a 32 per cent rise in first-half net profit today, helped by lower charges for bad debts amid a strengthening of economic conditions in Australia. (The Australian)

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