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Ank Kumar
The bank will specifically pay €730 million in penalties and €105 million in damages to the French government.
The matter relates to events in the nation from 2004 to 2012.
In 2023, the French Supreme Court confirmed the guilty verdict against UBS but remanded the case to a lower court to determine if the bank should incur a $2 billion penalty.
UBS stated that it possesses sufficient reserves to handle all payments in this situation.
source: reuters.com
The matter relates to events in the nation from 2004 to 2012.
In 2023, the French Supreme Court confirmed the guilty verdict against UBS but remanded the case to a lower court to determine if the bank should incur a $2 billion penalty.
UBS stated that it possesses sufficient reserves to handle all payments in this situation.
source: reuters.com
