Romanian Banca Transilvania stock falls 9.5 percent

Banca Transilvania

14/01/2019 13:44

BUCHAREST, Jan 14 (Reuters) - Romania's Banca Transilvania
 ROTLV.BX  

    * Banca Transilvania shares fall 9.5 percent on uncertainty
related to new tax on banking assets.
    * BRD Bank  ROBRD.BX  shares also fall by 6.0 pct to 10.34
lei.
    * A Bucharest-based foreign broker said: "There's a lot of
uncertainty in the market on the new banking tax and banks
suffer most. It remains what to be seen how the government would
tax banking assets: they need to define precisely what are those
financial assets that are subject to the new tax, are bond
holdings going to be subject to this?
    * Romania's Social Democrat government approved a slew of
surprise
taxes via emergency decree on Dec. 21 including a new levy on
banks' financial assets despite plummeting stocks and universal
criticism from employers and unions. 
 


 (Reporting by Radu Marinas)
 ((radu.marinas@thomsonreuters.com; +40 21 527 0313 Reuters
Messaging: radu.marinas.thomsonreuters.com@reuters.net))