Standard Chartered reserves $ 900 million in potential fines

Standard Chartered reserves $ 900 million (£ 690 million) for possible fines related to investigations in Britain and the United States.

The money will cover separate investigations into US sanctions violations and currency issues.

It also provides for a £ 102.2 million fine from the Financial Conduct Authority of the United Kingdom, related to the control of financial crime.

The provision will be included in the bank's results expected next week.

The bank, listed in London and Hong Kong, warned last year that continued investigations by US and UK regulators could have a "substantial financial impact".

"Standard Chartered's fourth quarter 2018 results will include a provision of a total of US $ 900 million for potential penalties related to the US investigation and the FCA's decision, as well as the costs of the sale. to previously disclosed investigations of foreign exchange issues, "said the Kong Stock Exchange.

In October, the Financial Times announced that the bank could be fined US $ 1.5 billion by US regulators for alleged violation of sanctions by Iranian customers at its Dubai branch.

Standard Chartered shares listed in Hong Kong fell more than 1% earlier, according to Reuters.