Standard Chartered to Pay U.S. $330 Million to Settle Iran Laundering Claims

Standard Chartered to Pay U.S. $330 Million to Settle Iran Laundering Claims

HONG KONG–Standard Chartered said Thursday it expected to pay around $ 330 million to settle allegations by United States government agencies that it laundered hundreds of billions of dollars on behalf of Iran.

The British bank, which earns most of its profit in Asia, said it anticipated negotiations with U.S. enforcement agencies over charges it violated American sanctions against Iran will conclude ‘‘very shortly.’’

The estimated settlement payment would come in addition to the $ 340 million that the lender agreed in August to pay to the New York Department of Financial Services, after the state banking regulator charged Standard Chartered with scheming with Iranian companies and banks for nearly a decade to hide from regulators 60,000 transactions worth $ 250 billion.

Despite the hefty New York settlement, Standard Chartered said in a trading statement on Thursday that it expected pretax profit to grow at a mid-single-digit rate for 2012. The profit estimate did not include the impact of the estimated $ 330 million settlement with the U.S. federal agencies, which it did not identify.

Shares in Standard Chartered rose 0.8 percent to 1,500 pence in early trading in London on Thursday after the announcement was made.


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