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Hungarian burden for Austro-banks
Raiffeisen International (RI) CEO Herbert Stepic expressed his concerns during a general conference.
Hungarian burden for Austro-banks / Picture: © Flickr / St. Petersburg International Economic Forum
The bank tax in Hungary had a "big" impact on the industry. Some institutions could therefore slip into the red. Moreover Stepic sees a risk in other Eastern European countries following Hungary’s lead and also implementing a bank.
The analysts have cut profit forecasts for Erste Group because of the Hungarian tax.
The bank tax would amount to 45 basis points of adjusted…
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