Standard Chartered PLC (LON:STAN) said it will set aside a total of US$900mln in its fourth-quarter results to cover potential penalties related to investigations by both UK and US authorities for financial crime and forex trading issues.
The FTSE 100-listed, emerging markets-focused bank, which was fined £10.2mln by the UK Financial Conduct Authority over the issues, said discussions are continuing with US authorities relating to its historical violations of US sanction laws.
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In February, the lender agreed to pay US$40mln in fines to settle claims in the US related to the manipulation of emerging markets currency pricing.
In a statement, Standard Chartered said the financial charge "reflects management's current view of the appropriate level of provision."
It added: "Resolution of the US investigation and of the FCA process might ultimately result in a different level of penalties.”
Standard Chartered will release its 2018 results on Tuesday, 26 February.