According to Hungarian daily Nepszabadsag, most banks target to transfer transaction tax onto costumers according to new fee tables published by
banks. Some banks charge 0.3%, some only 0.1%.
Our view:
It should have been expected that at least part of the transaction tax will be transferred onto the clients. seems to charge between 0.1% and 0.2% depends on the type of the transaction. This is broadly in line with our expectations that part of the charge will be covered by the bank. Our initial expectation was that will cover 40% of the charge. In general transaction tax is negative as beyond direct impact it can potentially negatively affect number of transactions in the financial system. However this should have been widely expected by the market therefore we expect the news to have a neutral trading impact.