Windfall Profit Tax Accounting Weighs on Erste Bank Hungary’s Bottom Line

🌐 Budapest Business Journal (HU) —
Windfall Profit Tax Accounting Weighs on Erste Bank Hungary’s Bottom Line

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Erste Bank Hungary reported a loss of HUF 5 billion in the first quarter due to new regulations that required the bank to account for a windfall profit tax in the first quarter. This regulation highlights challenges faced by financial institutions amid regulatory changes in Hungary.

Erste Bank Hungary booked a first-quarter loss of HUF 5 billion as new rules required the lender to book the full-year windfall profit tax in Q1, chairman-CEO Radovan Jelasity said on Wednesday.

Markets Deals banking tax finance Hungary Erste Bank

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