The French bank Societe Generale hopes to reach settlements with authorities over recent regulatory investigations in the next weeks or months, its chief financial officer told CNBC Tuesday.
"On two cases around Libor and LIA (the Libyan Investment Authority) we are expecting a settlement within weeks and months," Philippe Heim, the CFO at the bank said.
In August, U.S. authorities charged two managers at the French bank for manipulating the U.S. dollar Libor benchmark interest rate — a key industry interest rate that impacts mortgages, credit cars and other loans. More recently, French authorities started a preliminary investigation into the possible breaking of anti-corruption laws during its work with the Libyan Investment Authority.
On Monday, the bank said that it was putting 570 million euros ($678 million) aside for exceptional charges in the fourth quarter. The French lender also announced plans to cut up to 900 jobs and close 300 branches across France as it bets on digital banking.