Bank tax reached PLN 3.6 bln in 2017 - KNF

The value of the banking tax paid by lenders last year amounted to PLN 3.63 billion, the Financial Supervision Authority said. “Last year, banks made a profit of PLN 13.6 billion. This is 2.3 percent lower than the year before however, this difference is primarily due to a one-off sale of shares Visa Europe (which boosted 2016 results by PLN 2 billion),” KNF said. Last year, 18 banks and three credit institutions paid such tax. These lenders controlled 74.1 percent of the sector’s assets. Since February 1, 2016, banks have to pay 0.0366 percent tax on the monthly value of the banks’ assets.