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

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By Reuters
Societe Generale expects U.S. sanctions penalties to be close to 1.2 billion euros
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   -   Copyright  Benoit Tessier(Reuters)

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 (£1.08 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.

(Reporting by Inti Landauro; Editing by David Goodman)