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Nordic Lenders at Risk From Eastern Europe’s Latest Tax on Banks

Nordic lenders are facing headwinds in the Baltic region they dominate as yet another eastern European nation weighs introducing a tax on banks.

This time it’s Lithuania, a European Union and euro area member, looking to follow Hungary, Poland and Romania in imposing a levy. The tax on assets of as much as 0.4%, to help fund social spending, could take force as early as next year, according to Prime Minister Saulius Skvernelis.