Legal fines dent StanChart profits

Administrative charges soared by 46% to $2.9 billion at Standard Chartered in 2018, as the bank prepared to pay fines related to past misconduct.

The bank put aside $900 million last year to cover penalties related to investigations into transactions violating US sanctions against Iran and improper conduct in foreign exchange trading, and a charge levied by the UK conduct watchdog for financial crime control failures.

In addition to these legal penalties, StanChart’s UK bank levy increased 47%

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: