Banks refused to pay special levy

They say it is unconstitutional and will take it to court.

Slovak Bank Association executive director Milena Koreňová (left), SBA president Alexander Resch, SBA vice-president Daniel Kollár and SBA board member Peter Krutil počas tlačovej konferencie Prezídia SBA v Bratislave hold a press conference on the bank levy in Bratislava on November 11, 2019Slovak Bank Association executive director Milena Koreňová (left), SBA president Alexander Resch, SBA vice-president Daniel Kollár and SBA board member Peter Krutil počas tlačovej konferencie Prezídia SBA v Bratislave hold a press conference on the bank levy in Bratislava on November 11, 2019 (Source: TASR)

Banks operating in Slovakia will have to pay more to the state due to a higher bank levy, which the government approved last week and is now on the way to parliament. But they refuse to do so.

If the parliament consents to maintain the bank levy in 2020 and later, which is to double from 0.2 percent to 0.4 percent of banks’ liabilities, banks are ready to turn to the Constitutional Court.

“The situation is serious,” Daniel Kollár, the Slovak Bank Association (SBA) vice-president said, as quoted by the TASR newswire.

Related articleBank levy may double Read more 

Financial houses caution against the deterioration of profitability and say the increased levy will have fatal consequences for medium-sized and small banks.

An outflow of banks

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