Research (J&T BANKA)
Czech markets  |  November 19, 2012 08:51:52

Erste: The Hungarian government has approved a permanent tax on banks

The Hungarian government has approved a draft bill that would tax the bank had since 2014 become a permanent part of the tax system. The amount of tax should be the same as next year, which will probably be at the same level as this year. For banks, this step is clearly negative, but in our view expected. Erste it will mean just another incentive to reduce its exposure in this country, layoffs and closing branches.

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