commerzbank to pay 14bn to settle us sanctions case
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Commerzbank to pay $1.4bn to settle US sanctions case

Arab Today, arab today

Arab Today, arab today Commerzbank to pay $1.4bn to settle US sanctions case

Commerzbank
Frankfurt - AFP

Germany's Commerzbank will pay at least $1.4 billion to settle US claims that it violated sanctions on countries including Iran and Sudan, Bloomberg reported.
The second-biggest German lender agreed to the settlement with US authorities, which could be finalised this month as part of an accord that would also resolve a separate money-laundering matter, according to the report late Thursday.
Commerzbank would pay a minimum combined sum of $1.4 billion (1.3 billion euros) to the US Justice Department, the Federal Reserve and other regulators, Bloomberg said, quoting a person briefed on the matter.
The bank is accused of handling transactions for business with Iran, Sudan and other sanctioned countries.
It declined AFP's requests for a comment on the report.
Bloomberg said Commerzbank added 484 million euros to its legal provisions in 2014, and earmarked 934 million euros for legal costs at the end of 2013.
French bank BNP Paribas last year paid a record $8.9 billion fine imposed by the US Justice Department for violating international sanctions by doing business with Iran, Cuba, Sudan and other regimes targeted by embargoes.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

commerzbank to pay 14bn to settle us sanctions case commerzbank to pay 14bn to settle us sanctions case

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

commerzbank to pay 14bn to settle us sanctions case commerzbank to pay 14bn to settle us sanctions case

 



GMT 11:44 2017 Wednesday ,22 March

World Happiness Council established

GMT 16:00 2017 Friday ,03 March

Qatar's UNESCO Candidate Meets Ghana's President

GMT 04:59 2016 Thursday ,20 October

Gwen Stefani to return on ‘The Voice’

GMT 21:14 2017 Wednesday ,08 February

Sheikh Hamdan inaugurates 21st AEEDC Dubai

GMT 16:09 2017 Thursday ,09 March

Suspected US airstrike kills 2 Yemen children

GMT 07:49 2017 Tuesday ,31 January

Shell sells part of North Sea assets for $3.8bn

GMT 10:59 2017 Saturday ,07 January

12 dead as torrential rains submerge Thai south

GMT 20:35 2017 Tuesday ,14 March

Cultural projects in Manama

GMT 10:41 2016 Sunday ,02 October

India's Bhullar wins Korea Golf Open
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday