SocGen expects U.S. sanctions penalties to be close to 1.2 billion euros

FAN Editor
FILE PHOTO: A general view shows French bank Societe Generale headquarters buildings in La Defense near Paris
FILE PHOTO: A general view shows French bank Societe Generale headquarters buildings in La Defense near Paris, France, February 11, 2016. REUTERS/Benoit Tessier/File Photo

September 3, 2018

PARIS (Reuters) – French bank Societe Generale <SOGN.PA> expects penalties related to its dispute with U.S. authorities over international sanctions violations will be close to 1.2 billion euros ($1.39 billion), it said on Monday.

SocGen said it has entered “a phase of more active discussions” with U.S. authorities and reiterated that it expects the matter to be settled in the coming weeks.

($1 = 0.8610 euros)

(Reporting by Inti Landauro; Editing by David Goodman)

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