Credit Suisse will pay about $47m to settle a US Justice Department probe of whether its hiring practices in Asia violated a US antibribery law, The Wall Street Journal reports.

The lender said in its 2017 annual report that it was cooperating with inquiries by the Justice Department and the Securities and Exchange Commission into whether it had hired "referrals" from government agencies and state-owned entities in exchange for investment-banking business or regulatory approvals, potentially breaching the Foreign Corrupt Practices Act.