Erste CEO Says His Poland Deal Is Good Despite Planned Bank Tax

Erste Group Bank AG Chief Executive Officer Peter Bosek said a planned banking tax in Poland, unveiled after the Austrian lender agreed to buy a stake in a big local lender, doesn’t change the basic appeal of the deal.

“Not really,” Bosek said at a Bloomberg event on Monday in Vienna when asked whether the new levy would affect the economics underlying the transaction. He said that taxes on companies including banks is “a situation we are confronted” with “in a lot of countries.”

WATCH: Erste Group Bank CEO Peter Bosek said a planned banking tax in Poland doesn’t change the appeal of its deal to buy a 49% stake in Santander Bank Polska for €7 billion.

Source: Bloomberg

The Polish government announced plans last month to raise the corporate tax for banks ...