SG signs US deal on sanctions violations

Société Générale has agreed to pay $1.34bn in fines and an enhanced monitoring programme for violating US sanctions against Cuba, Iran, Sudan, Libya, Myanmar and North Korea, according to notices issued by US agencies on Monday.

  • By Owen Sanderson
  • 20 Nov 2018

The bank had already provisioned €1.2bn against the likely settlement and said in its most recent reporting that it expected to reach a deal "in the coming weeks". The bank’s payments are fully covered by the provision, but shares were still down 2% on Tuesday morning.

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