The windfall tax is probably one of the most talked about topics on our domestic scene this year. Its exact specifications are still unknown, we only know who it is supposed to affect. The most speculated sector, however, remains the banks, where there is often a big debate about whether the tax makes sense at all when the big banks can help us much more effectively. This is precisely the subject that will be the main focus of today's article.
Commercial Bank
By taxing the windfall profits of the energy sector, banks and refineries, the government wants to raise money to help people with their gas and electricity bills. The cabinet justifies the tax on the grounds that banks benefit from the high rates the Czech National Bank (CNB) uses to fight inflation, while banks do not offer their customers high deposit appreciation. But does this make sense? 👇
Recently, the CNB released the latest banking sector statistics for 2Q22 - here's what net profit and net interest income on average assets…