Fitch: Bank of Hungary valet is expecting a third year of losses and the new tax. President fights with Orbán on savings - Patria.cz
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The banking sector in Hungary this year will be the third year in a loss before it offsetting the impact of additional transaction tax that banks picks up another quarter profit before tax, the credit rating agency Fitch warned. Step interferes Austrian bank Erste Group, whose shares today to lose around 5% under the pressure of raising capital by issuing new shares. President Ader, moreover, returned to the Hungarian Parliament hastily enacted law that strengthens state control over savings and opens the way for a possible nationalization. With savings valet had not been consulted and those begging him to intervene. The European Parliament today adopted a report criticizing the constitutional provisions and fundamental freedoms in the country. Another controversial measure in the form of one-off transaction tax (FTT) in 2013 may lead to a reduction in support to local branches of foreign parent valet banks and apprehend the rating, Fitch said. "The high credit risk, a weak economy and very painful taxing banks are likely to lead to a third loss-making year for the banking industry in the country prior to setting off a new transaction tax," says Fitch. Its impact while math is accurate to 75 billion forint, or the equivalent of 250 million euros, which is roughly a quarter of the bank's annual result before taxes. Fitch new transaction tax math is accurate to 208% of the payments that banks have already done a year between January and April. "The tax goes to the recognition of one-off valet losses in the bank and parent groups collide willingness of banks to continue to support the Hungarian market," Fitch expressed concern.
Read more: Hungary celebrates "Orbánomiku". But at what price? Hungary again imposing higher taxes on banks and telecommunications. It's addictive ... Austria haunted sticker shaky banks. Erste and others do not want to deal with the fall of the Hypo Alpe Adria Erste (-8%) increase valet share capital by 660 million euros and repay the participation of the state and investors. Waiting valet operating decrease (+ comment) Erste (-4%) has launched a capital increase. Shares offered to existing investors valet for 18.75
Fitch notes that this is another violation of agreements with banks and government attitudes toward taxing. valet The Hungarian government announced in June a plan to increase transaction tax, already the highest valet in Europe, 0.6% cash and 0.3% for non-cash transfers from the current 0.3% and 0.2% - ie 100% and 50% . In the telecommunications tax will increase to 3 forints from the previous two - ie 50% - for a minute or per SMS. The Government will further increase the stumpage, in particular relating to the oil and gas group MOL, to 16% from the current 12% - a third. The new tax imposed on banks, while standing next to a special valet bank tax paid by the Bank since 2010 in
Home Patria valet Plus About Data Export Price list Benefits Investor Plus About Price list Benefits Academy Introduction to Investing Investing Investment Analysis Investment Strategy Investment Tips Glossary Money management Trading News Message Equity All CEE Czech Republic World Recommendation Results valet Results CEE Results World IPO, M & A Reports Investment tips Economic Everything GDP Inflation Retail Industry PPI Wages Unemployment Foreign Trade Construction ST. All budget Currencies Rates Bonds Commodities valet Currencies Posts All Žabža Plíva Kovac Soustružník valet Vaškovic Tuma Palát Burda Anonymous Project S. Wolf Slovakia Interviews Video Monitoring Survey Blog Shares & Funds Overview Indices and Futures Equities online Poland valet Czech Republic Hungary Romania Slovakia Matches. Europe USA World Equity Shares history Detail Online History News Company Management Recommendation valet Chart Interactive Chart Sector Forum Research Recommendation Analyses Data banks Funds Home Detail About IPO IPO IPO for the company to investors Overview Rates & Currencies Currencies Online Detail History Rates Online Detail History Bonds Government bonds of the Czech Republic Czech Republic National World Business World Business Research Recommendation Analyses Data banks Tools Home Currencies Long Short rate rate Forex Trading Station Calendar Technical Analysis Trading valet Signals Charts Education Forum Alerts Commodities & Derivatives Commodities Energ. Exchange Czech Republic Slovakia Hungary ETF Favorites Search Description ETC Favorites Search Description valet Certificates Favorites Search Description Detail Warranty Favorites Search Description Detail Lever Certificates Favorites Search Description Detail Home Economics Makropřehled Czech Republic Slovakia Poland Hungary Indicator GDP Unemployment Inflation Wages Manufacturing trade balance, retail valet sales prices of industrial producers Building Production Analysis Data banks Patria My My My My Profile Settings page My Favorite Stocks Currencies and rates ETC ETF Funds Certificates Warranty Lever Certificates My portfolio State Transactions Analysis valet My e-mails My sms
Search for comments
Sale on NWR, two days degree wrote 56%! (Comment + analyst price target)
PepsiCo Inc. announced its results for 2Q14; Pepsi Exceeds Expectations
Week sales on Wall Street, S & P 500 and Nasdaq -3%
The banking sector in Hungary this year will be the third year in a loss before it offsetting the impact of additional transaction tax that banks picks up another quarter profit before tax, the credit rating agency Fitch warned. Step interferes Austrian bank Erste Group, whose shares today to lose around 5% under the pressure of raising capital by issuing new shares. President Ader, moreover, returned to the Hungarian Parliament hastily enacted law that strengthens state control over savings and opens the way for a possible nationalization. With savings valet had not been consulted and those begging him to intervene. The European Parliament today adopted a report criticizing the constitutional provisions and fundamental freedoms in the country. Another controversial measure in the form of one-off transaction tax (FTT) in 2013 may lead to a reduction in support to local branches of foreign parent valet banks and apprehend the rating, Fitch said. "The high credit risk, a weak economy and very painful taxing banks are likely to lead to a third loss-making year for the banking industry in the country prior to setting off a new transaction tax," says Fitch. Its impact while math is accurate to 75 billion forint, or the equivalent of 250 million euros, which is roughly a quarter of the bank's annual result before taxes. Fitch new transaction tax math is accurate to 208% of the payments that banks have already done a year between January and April. "The tax goes to the recognition of one-off valet losses in the bank and parent groups collide willingness of banks to continue to support the Hungarian market," Fitch expressed concern.
Read more: Hungary celebrates "Orbánomiku". But at what price? Hungary again imposing higher taxes on banks and telecommunications. It's addictive ... Austria haunted sticker shaky banks. Erste and others do not want to deal with the fall of the Hypo Alpe Adria Erste (-8%) increase valet share capital by 660 million euros and repay the participation of the state and investors. Waiting valet operating decrease (+ comment) Erste (-4%) has launched a capital increase. Shares offered to existing investors valet for 18.75
Fitch notes that this is another violation of agreements with banks and government attitudes toward taxing. valet The Hungarian government announced in June a plan to increase transaction tax, already the highest valet in Europe, 0.6% cash and 0.3% for non-cash transfers from the current 0.3% and 0.2% - ie 100% and 50% . In the telecommunications tax will increase to 3 forints from the previous two - ie 50% - for a minute or per SMS. The Government will further increase the stumpage, in particular relating to the oil and gas group MOL, to 16% from the current 12% - a third. The new tax imposed on banks, while standing next to a special valet bank tax paid by the Bank since 2010 in
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