Société Générale: to pay 1.3bn euros in legal settlements
(CercleFinance.com) - For the settlement of the IBOR and Libyan cases, Société Générale has agreed to pay approximately 1.
3 billion euros to the Department of Justice and the Commodity Futures Trading Commission of the United States, as well as to the French National financial prosecutor.
This amount is fully covered by provisions in the bank's accounts which have been allocated to these two disputes. These payments will therefore not have any impact on the company's overall results.
Moreover, in response to a recently published article in the Financial Times, the French bank denies any talks in its board of directors regarding a potential merger with Unicredit.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
3 billion euros to the Department of Justice and the Commodity Futures Trading Commission of the United States, as well as to the French National financial prosecutor.
This amount is fully covered by provisions in the bank's accounts which have been allocated to these two disputes. These payments will therefore not have any impact on the company's overall results.
Moreover, in response to a recently published article in the Financial Times, the French bank denies any talks in its board of directors regarding a potential merger with Unicredit.
Copyright (c) 2018 CercleFinance.com. All rights reserved.