Hungary's National Bank Losses Expanded In First Half

  • 27 Aug 2013 9:00 AM
Hungary's National Bank Losses Expanded In First Half
MKB Bank lost €108 million before taxes in the first half of the year, up from a €66 million loss one year earlier, according to the interim report of its parent bank BayernLB. MKB paid €46 million of the bank tax and €26 million of the financial transaction tax in the first quarter.

MKB accounted the whole 2013 bank tax in the first quarter, and the government levied an extra one-off tax in the second quarter.

BayernLB observed in its report that government intervention may seriously test the operations of banks in Hungary.

Source: Hungary Around the Clock

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