this bank president SabadellJoseph Oliuassured this Monday ‘tax’ in banks committed by Congress at the request of the government “clearly discriminatory” and enabled the sector to “talk” to political authorities. “alternative suggestions” “adjusting to what is lawful and just” the legal text eventually approved. “I see, you have to shoulder because of the difficulty of the environment, but you have to give three rounds how this way of putting shoulders should happen,” he said.
At the annual meeting of the bank’s advisory councils, Oliu will not apply principally all assets (only those with interest margins plus commissions of more than €800 million in 2019). “to discriminate not only to the shareholders of banks, but also to some banks compared to others,” he complained.
He also claimed that. tax incident Selected by the Manager (in Spain, the difference in interest applied to loans and paid on deposits plus income from commissions) “punishes mainly operating banks SMEs“—like Sabadell himself—and “all national” (Santander and BBVA get most of their results abroad).
even distribution
“I understand what the government wants. balance your accounts – very decent tax revenues are being generated right now – and I understand that you want to deal with it. vulnerability needs It’s what inflation creates in the Spanish population. All I’m saying is, contribution to this vulnerability balancedIn this sense, it reminded me that Sabadell created it in 2015. sogeviso (the company played an important role during the worst of the pandemic, especially to help clients with payment problems with mortgage matters).
The bank, he continued, is already working on it. Internal precautions Dealing with vulnerabilities that may lead to an inflationary spiral, even if they have not “yet” occurred. “The way is for us to face out of sense of responsibility to our vulnerable customers”, in response to the cap on increases in variable rate mortgage payments proposed by United We Can.
Along the same lines, the CEO of the enterprise, César González-BuenoHe wanted the new ‘tax’ to be “temporary and not distort competition” and stressed that Sabadell had paid some tax. 800 million euro in taxes last year compared to profit 530 million.
The executive also positive effect of interest rate hike will exceed the negative impact of inflation on the bank’s income and will have a predictable higher guilt: “We are waiting more tailwinds than headwinds“. He also announced his retirement. Michael MontesA longtime director of the bank will be replaced by Sonia Quirús as head of human resources and Jorge Rodriguez in private banking.