Citibank provides US$2.7b for legal expenses

Citibank is the latest bank to show that, despite the large sums already paid out, the banks are expecting further big legal bills.

11 December 2014

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Chief executive Michael Corbat said that the bank is making the provision in its its Q3 results. The sum relates to investigations and inquiries about its activity in the currency markets, the setting of the Libor benchmark and anti-money laundering issues. Source: BBC