Three foreign banks are considering pulling out of Hungary due to the government"s financial sector windfall tax, daily Nepszava reported on Tuesday, without specifying the sources of this information.
It did not name the three banks in question but added that in terms of their balance sheet totals, they were comparable in size with "OTP Bank" Nyrt.
This year, the Hungarian government decided to implement a special tax on banks, insurers and leasing companies, in order to plug the holes in its budget. In July, some of the foreign banks present in Hungary urged the IMF to convince the Hungarian government to lower the tax levied on bank gains, which the Hungarian government hopes will bring in more than 900 million dollars. The banks in question include the Hungarian divisions of KBC, "Erste Group", "Intesa Sanpaolo", "Raiffeisen International", "BayernLB" and "UniCredit".