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Bank Austria CEO Cernko: No More Bank Tax Soon

Published: October 22, 2010; 17:29 · (Vindobona)

Due to Basel III, location reasons and to safeguard jobs, the bank tax will only be effective temporarily, according to Cernko

Bank Austria CEO Cernko: No More Bank Tax Soon / Picture: © Uni Credit Group Bank Austria

Bank taxes created for budget restructuring are naturally unpopular with banks, and their introduction has caused fierce resistance among the local banks. But ultimately they had to be accepted. About their limitation in time nothing has been discussed as yet. The group-CEO of the UniCredit subsidiary Bank Austria, Willi Cernko, expressed: "I start from the premise that the bank tax…

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