Bank Tax is "untimely" for ÖVAG

People ♦ Published: February 8, 2011; 01:13 ♦ (Vindobona)

The Austrian Volksbank Group's CEO, Gerald Wenzel, expects expenditure of € 40m due to the bank tax.

Bank Tax is "untimely" for ÖVAG / Picture: © Wikipedia / MrPanyGoff

In an interview with the OÖN, the CEO of the Volksbanken Group (ÖVAG) said that the bank tax will affect the institute with an amount between € 35m and € 40m.

The current resizing is hardly taken into consideration. Total assets are to be reduced from the current € 48bn to € 30bn, a measure which will be enabled by the already effected sale of VB Leasing International…