A Credit Agricole sign is pictured on a building of the bank in Geneva November 26, 2014. REUTERS/Denis Balibouse PARIS (Reuters) - Credit Agricole’s Swiss division said on Thursday it had paid a $99.2 million penalty to avoid prosecution for helping American clients evade taxes, under a deal with the U.S. Justice Department. Credit Agricole Suisse was one of three banks that reached voluntary settlements under a U.S. program requiring disclosure of cross-border activities that helped clients conceal assets from tax authorities. The payment is covered by existing provisions and will not impact 2015 financial results, Credit Agricole said. Its Zurich-based subsidiary is cooperating fully with U.S. authorities, its statement added. Reporting by Dominique Vidalon
The Swiss unit of Credit Agricole has said that the bank has paid $99.2m in a penalty to the US Justice Department in order to avoid prosecution for helping US citizens evade taxes. The penalty will not reportedly impact the bank's November 26, 2014 financial results.