The Bankers in the City will hardly be affected by the tax bonus, introduced by the British government last month, according to a Financial Times survey among leading investment banks. The majority of banks surveyed in the anonymous survey said they will bear all expenses for single tax rate of 50% or more of them by increasing funds for bonuses, even at risk to irritate the government and its own shareholders. The results coincide with information gathered by companies for recruitment. “90% of the tax will be borne by the banks,” says consultant by one company with customers in the City. In many cases this will mean that banks will double the funds allocated for bonuses, and tax costs will be borne by shareholders. Likely to be affected dividends that will already be under pressure because of the requirements of regulators to keep the profits banks to strengthen capital, the bankers admitted. Some investors have become increasingly dissatisfied with the plans of banks. According to the survey more likely to take a full tax at state institutions. However, some, as U.S. and Europe say they will try to share the cost of taxes and bonuses between the bank employees. In cases in which costs are shared by bankers that will apply globally, not only for employees in London. This strategy will not like the British finance ministry. When British finance minister Alistair Darling said the tax he expected that banks refuse to distribute large bonuses, such as forecasting that it will attract additional revenue of only 550 million pounds.
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The International credit rating agency Standard and Poor’s announced that it confirms the long-term rating of A European banking group UniCredit Group. Short-term rates e A-1, a stable outlook, the bank said. The decision of Standard and Poor’s follows the disclosure of UniCredit’s intention to further strengthen its capital position by increasing its capital by 4 billion. The Board of Directors of the Bank adopted a proposal for a capital increase by issuing new ordinary shares. Thus, the group’s capital base will grow by an additional 80 basis points. At the end of June 2009 the index Core Tier 1 is 6.85%. With the capital increase UniCredit aims to continue its support for countries in which it works and to develop lending to small and medium-sized businesses, individual customers and households, says the message.
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