Ibex Bank will pay 1,120 million for the temporary state tax

Six banks which are listed in IBEX 35 will finally pay 1,120 million euros in the concept of the new temporary tax on their revenues approved by the Government for the year 2023 and 2024, it is evident from the final calculations that the entities included these days when publishing the profit and loss accounts for the first quarter.

This figure is 6.7% lower than initial estimates which the banks announced, when they expected that they would have to pay a total of around 1,200 million euros into the public treasury.

banker was the first bank to present its profit and loss account on April 20. It included a tax payment of 77 million euros, below the range of 80 to 100 million initially reported.

on your side Santander bank Finally, it will contribute with 224 million euros, within the range between 220 and 230 million that it provisionally reported a few months ago. A similar figure was registered BBVA (225 million), the same one he initially considered. In both cases, the amount to be paid into the public treasury is in contrast to the high income, as a large part of the business takes place outside of Spain.

Sabadell will finally contribute 157 million for taxes, below the 170 million he considered at the beginning, while the final invoice of Bank Unicaja it was reduced from an estimated 76 million to a total of 63.8 million.

Finally, this Friday it was found out that CaixaBank will have to pay 373 million in tax, compared to 400 million as originally announced.

Almost 14% more profit

Six large listed banks received a net profit of EUR 4.696 million in the entire first quarter of 2023. almost 14% more. In this way, despite the impact of the special tax, profit increased by 13.9 percent compared to the same period last year.

Payments from other unlisted entities should be added to these amounts, such as Abanca (39 million euros, compared to the estimated 50) or kutxabank (47 million, also against another 50 estimates).

The Government estimates that this new tax foresees an increase in collection by 1,500 million euros. To what the aforementioned banks will contribute, we must add what other entities that are not listed on the stock exchange or even foreign entities operating in Spain will have to pay.

Initially, this tax will be in effect only during 2023 and 2024, affecting the net income from commissions and interest that entities register in previous years. Moreover, The government keeps the door open for the permanent introduction of this taxanalyzing its performance at the end of 2024.