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)

By Reuters

Published on 03/09/2018 - 19:04•Updated 18/04/2024 - 05:49

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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.