CEO Boris Collardi cited outside analysts' estimates of a fine in the range of CHF50 million to CHF250 million, saying, "I guess that's what's reasonable to expect."
"We have sent a communication to them, asking them to tell us about the source of the sundry income and how it has been dealt with. We are yet to get a response from them," Shah said.
Tim Baxter, Stanchart’s London-based head of corporate communications told Euromoney: “Yes, there has been a breach.”
A four-year-old investigation that included searches of offices and private property, didn’t support allegations initially made in a television-news report, prosecutors in Mannheim said in an e-mailed statement.