January 14, 2019 / 2:11 PM / 5 months ago

Romanian Banca Transilvania stock falls 9.5 percent

BUCHAREST, Jan 14 (Reuters) - Romania’s Banca Transilvania

* Banca Transilvania shares fall 9.5 percent on uncertainty related to new tax on banking assets.

* BRD Bank 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 Sandor Peto in Budapest and Radu Marinas in Bucharest)

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