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Bloomberg
Czech banks have avoided a threat of special taxes for the industry by agreeing in principle to contribute a portion of their profits to a national development fund proposed by Prime Minister Andrej Babis.
Babis said on Monday he wants the units of Societe Generale SA, Erste Group Bank AG, KBC Groep NV, and UniCredit SpA, to pay an initial 6 billion koruna ($260 million) to the fund that would help finance infrastructure investments. He wants “others†to join in as contributors later.
“Our ambition is for the fund to be set up as soon as possible,†the CBA industry lobby group said.