Critical Factors
- Italian Deputy Prime Minister Matteo Salvini announced on Monday a 40% levy on banks’ additional “surplus” revenue derived from better fascination prices.
- The a single-off tax will be equal to all-around 19% of banks’ web profits for the 12 months, analysts at Citi approximated centered on at present obtainable facts.
- “We see this tax as substantially unfavorable for banks supplied both equally the impact on funds and profit as perfectly as for price of equity of lender shares,” Citi stated.
