Alexa
  • Directory of Taiwan

US fine dents Standard Chartered profits

US fine dents Standard Chartered profits

Standard Chartered PLC says its operating profit for the first nine months has been badly dented by a settlement with a U.S. authority over alleged sanctions violations.
The bank agreed in August to pay $340 million to a New York regulator to settle accusations that it hid illegal transactions with Iran and violated U.S. sanctions law. Investigations by other U.S. agencies are continuing.
In a trading update, the bank said Tuesday that the payment pushed operating profit down into the mid-single digits from the mid double-digit range.
Standard Chartered did not release detailed earnings and income figures for the period.
Its shares were down 1.2 percent at 1,480 pence in London trading.


Updated : 2021-05-17 09:11 GMT+08:00