January 14, 2019 / 2:08 PM / 6 months ago

Romanian Banca Transilvania stock falls 9.5 percent

BUCHAREST, Jan 14 (Reuters) - Romania’s Banca Transilvania

* Banca Transilvania shares fall 9.5 percent on uncertainty related to new tax on banking assets.

* BRD Bank shares also fall by 6.0 pct to 10.34 lei.

* A Bucharest-based foreign broker said: “There’s a lot of uncertainty in the market on the new banking tax and banks suffer most. It remains what to be seen how the government would tax banking assets: they need to define precisely what are those financial assets that are subject to the new tax, are bond holdings going to be subject to this?

* Romania’s Social Democrat government approved a slew of surprise taxes via emergency decree on Dec. 21 including a new levy on banks’ financial assets despite plummeting stocks and universal criticism from employers and unions. (Reporting by Sandor Peto in Budapest and Radu Marinas in Bucharest)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below