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MILAN – The tax on bank “extra profits”, a muscular move sketched by the council of ministers on Monday evening, in one session takes away 8.65 billion euros from the sector listed on Piazza Affari.
A sum that until yesterday evening, in all the estimates of insiders such as Mediobanca, Ubs, Jefferies, but also of trade union sources, was very similar to what the executive could have pocketed from Italian institutions, taxing the growth of their “interest margins” (difference between rates imposed on customers and those paid to depositors) in 2023, the result of nine ECB rate hikes in one year.