September 3, 2018 / 4:46 PM / in a month

CORRECTED-(OFFICIAL)-SocGen expects U.S. sanctions penalties to be close to 1.1 bln euros

(Bank corrects SEPT 3 statement to show estimated penalties 1.1 billion (not 1.2 billion) euros)

PARIS, Sept 3 (Reuters) - French bank Societe Generale expects penalties related to its dispute with U.S. authorities over international sanctions violations will be close to 1.1 billion euros ($1.27 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.

($1 = 0.8610 euros)

Reporting by Inti Landauro; editing by David Goodman

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