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

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

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

(Reporting by Inti Landauro; Editing by David Goodman)

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