HONG KONG: Standard Chartered expects to pay $330 million to settle a case with U.S. regulators who accused the Asia-focused bank of failing to comply with sanctions against Iran, further denting profit growth this year.
The settlement will be on top of the $340 million it paid to New York's Department of Financial Services in the third quarter, which pushed its before-tax profit growth in 2012 to a mid-single-digit percentage from more than 10 percent, StanChart said in a statement on Thursday.
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