MILAN (Reuters) - The surprise bank tax Italy's government introduced in August has no major impact on UniCredit's earnings, but the uncertainty it ...
MILAN - The surprise bank tax Italy's government introduced in August has no major impact on UniCredit's earnings, but the uncertainty it stoked is damaging, Chief Executive Andrea OrcelSaltWire's Atlantic regional weather forecast for September 20, 2023 | SaltWireMILAN - The surprise bank tax Italy's government introduced in August has no major impact on UniCredit's earnings, but the uncertainty it stoked is damaging, Chief Executive Andrea Orcel said on Wednesday.
However, banks provide products such as money market funds or term deposits for depositors to invest their cash in, where they can get higher returns."The current account is a service you use to pay your bills ... clients care about the fees we charge and we have cut those, we cut 240 million euros in fees."
"The bank tax in terms of numbers is not going to have a very meaningful effect, our [capital] distribution [for 2023] is confirmed in excess of 6.5 billion euros and that's it," Orcel said.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
UniCredit CEO says no big impact from bank tax, but uncertainty harmfulThe surprise bank tax Italy's government introduced in August has no major impact on UniCredit's earnings, but the uncertainty it stoked is damaging, Chief Executive Andrea Orcel said on Wednesday. Addressing a financial conference, Orcel also said the debate over deposit rates, which has seen banks come under attack for not passing on higher interest rates to savers, was misguided. UniCredit is currently passing on between 20% and 25% of higher rates to Italian depositors, he said, less than anticipated.
Lire la suite »
Yellen says U.S. 'soft landing' can weather strike, govt shutdown, student loan risksBy David Lawder NEW YORK (Reuters) - U.S. Treasury Secretary Janet Yellen told Reuters that a
Lire la suite »
Soccer-Newcastle's Howe happy to leave Milan with a point(Reuters) - Newcastle United manager Eddie Howe said the significance of taking a point at AC Milan in the Champions League on Tuesday should not be ...
Lire la suite »
Indigo founder Heather Reisman returns as CEO of retailerShe fills the void left by the abrupt resignation of Peter Ruis from the top job earlier this month.
Lire la suite »
Indigo founder Heather Reisman returns as CEO of retailerTORONTO — Indigo Books & Music Inc. says founder Heather Reisman has returned to the retailer as chief executive officer. She fills the void left by the abrupt resignation of Peter Ruis from the top job earlier this month.
Lire la suite »
Toronto Star parent company names new CEO, newspaper 'parting ways' with ex-presidentTorstar Corp. says Neil Oliver will become the new chief executive of the Toronto Star newspaper's parent company.
Lire la suite »