Hungary May Get Transaction Tax Windfall, Jelasity Tells Heti

Hungary may collect “several times” more than the planned 130 billion forint ($436 million) of financial transactions tax, Radovan Jelasity, the chief executive officer of Erste Group Bank AG (EBS)’s local unit, told Heti Valasz.

Bank deposits of Hungarian households won’t “substantially” increase after a law allowing early repayment of foreign-currency loans at below-market rates depleted their savings, Jelasity told the weekly newspaper in an interview.

The government’s new six-month Treasury bill aimed at households is also making it harder for banks to increase deposits, Heti Valasz cited Jelasity as saying.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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