Credit Agricole Said to Near Accord in Sanctions Probe

Credit Agricole SA will probably reach an accord with U.S. officials in the next two months to settle a probe of the bank’s business in sanctioned countries including Iran, a person with knowledge of the matter said.

A resolution is expected to follow a settlement with Commerzbank AG, which is in discussions with U.S. authorities to pay about $650 million for breaking trade embargoes, the person said. Credit Agricole’s fine could be similar to Commerzbank’s, according to the person. Anne-Sophie Gentil, a spokeswoman for Credit Agricole, declined to comment.