BBVA has said the tariff will be detrimental to Spain’s economic growth. Santander has warned that the tax is “not the best way to fight inflation”. Sabadell has accused the Spanish government of formulating the tax “hastily”.
Euskaraz irakurri: Bankuetako zuzendariek esan dute zerga berria errekurrituko dutela “ordaindu et eta hurrengo egunean”
The main Spanish financial entities have again made very clear their opposition to the new tax that will temporarily tax the sector’s revenues, as the parliamentary process is not closed, and have even announced that they would be ready to appeal if they consider it necessary.
Of all bank executives who participated in the XIII Meeting of the financial sectororganized in Madrid by KPMG and Expansionthe one who has spoken most clearly is, as usual, the CEO of Bankinter, Maria Dolores Dancausawho has said they will object to it “the day after payment”.
In the same line, the CEO of BBVA, Onur Genkhas said that the tariff will be detrimental to Spain’s economic growth, and has accused the Spanish government of wanting, without mentioning it explicitly, to restrict banking activities, which is what is pursued when new tariffs are set for a particular sector.
#EFnanciero22 | Maria Dolores Dancausa, CEO @Bankinterabout the rate increase: “With regard to the assumptions with which we have drawn up the business plans for the next two years, we have assumed that rates will increase by a maximum of 3% and that this will last until 2024” pic.twitter.com/s6hbbX6IWr
— KPMG Spain (@KPMG_ES) November 28, 2022
For his part, the CEO of Santander Spain, Antonio Simoeshas said the tariff is “not the best way to fight inflation” and that it will be bad “for the Spanish economy”.
The CEO of CaixaBank, Gonzalo Gortazarhas ensured that the entity will carefully review the final wording of the new tax to verify its compliance with the law before deciding whether or not to object to it, as is their obligation as managers.
The CEO of Banco Sabadell, Cesar Gonzalez-Buenowho has accused the Spanish government of formulating the rate “hastily” and not falling into the contradiction that the text prohibits the transfer of expenditure to customers, and that the European regulator, the EBA, advises them to do so when confronted with extraordinary expenses.
#EFnanciero22 | Onur Genç, CEO @bbva
Oppose the new bank tax for three reasons: it restricts growth in Spain; the stability of banks must be ensured in a time of uncertainty; and because their benefits respond to rising rates pic.twitter.com/OpcL6g8Epu
— KPMG Spain (@KPMG_ES) November 28, 2022
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
