[caption id="attachment_105882" align="alignright" width="176"] The headquarters of the Commerzbank AG is pictured before the bank's annual news conference in Frankfurt February 13, 2014.[/caption]
(Reuters) - Commerzbank on Thursday warned shareholders it may face considerable fines from U.S. authorities as a result of investigations into alleged embargo breaches with countries like Iran, Sudan and�North Korea.
The bank's New York branch had been served subpoenas and had to surrender extensive documentation to authorities, Germany's second-largest bank said in its quarterly report.

"US authorities may impose civil and criminal sanctions on Commerzbank which may include substantial fines," the report said.

By Reuters

 

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