PKO BP will pay PLN 812 million in banking tax this year

PKO BP estimates that it will transfer over PLN 812 million  to the government budget in 2016 by virtue of the banking tax, the bank's Director of Analysis and Strategy Paweł Borys said. "The bank's response to the tax will be to continue to grow its credit portfolio and increase efficiency." Borys continued. The new banking tax, recently passed by the new government, charges a percentage on the value of assets owned by financial institutions. It has been in effect since February 1.