“If the Verkhovna Rada introduces increased taxation at the level of 50% for the banking sector in 2024, two state-owned banks will not meet the capital requirements and will have to be recapitalized from the budget. ”, — write: www.epravda.com.ua
If the Verkhovna Rada introduces increased taxation at the level of 50% for the banking sector in 2024, two state-owned banks will not meet the capital requirements and will have to be recapitalized from the budget.
About this in an interview with Forbes stated Kateryna Rozhkova, first deputy head of the National Bank.
As the publication writes, this year the NBU adopted new requirements for the capital structure of banks, which are 100% in line with European approaches.
“We assumed that the banks would use the profit to organically meet these requirements,” Rozhkova said.
But if 50% of banks’ profits are retrospectively deducted (and not 25%, as stipulated in the law now) for the entire year 2024, two state banks – Ukreximbank and Sense Bank – will violate the capital requirement, said the deputy head of the NBU.
This will require additional recapitalization with budget funds.
“We estimated this need at UAH 3 billion,” Rozhkova clarified.
We will remind:
Verkhovna Rada voted for draft law #11416-d on raising taxes in the first reading.
In the draft law on raising taxes No. 11416-d added clause on the taxation of banks’ profits, but the NBU and the Ministry of Finance are categorically against it.
NBU considers the next increase in the bank profit tax to 50% is too risky and wants to announce a package of decisions by the end of the week that will ensure the expansion of banks’ coverage of the budget deficit.