In a press conference today at BCP headquarters, where results up to September were unveiled (profits of 775.9 million euros), Miguel Maya expressed his hope that there would be no additional taxes imposed on the banking sector, noting that banks already face a specific tax (contribution on the banking sector) and also contribute to the Bank Resolution Fund.
Nonetheless, Maya acknowledged the possibility of new taxes, hoping they would be implemented broadly, rather than being targeted at a specific sector.
“My assessment is that this is not a solution aimed solely at the financial sector,” he stated.
Earlier this month, during the presentation of the State Budget proposal for 2026, which repeals the additional tax on the banking sector (after being declared unconstitutional by the Constitutional Court), the Government announced intentions to explore new methods of taxing banks.
“We will revisit the issue of taxation in this sector and seek other forms that do not encounter constitutional issues,” the Finance Minister stated to journalists at the time.
Regarding the contribution to the Portuguese Resolution Fund, Miguel Maya reiterated his longstanding view that it is unjust for this contribution not to be extended to other financial operators, potentially increasing revenue.
According to Maya, this burden is not shared by “other operators offering financial products” to Portuguese clients.
“I fail to understand why such an unfair measure, which disadvantages the bank’s activities compared to domestic and European competitors, remains uncorrected,” he remarked.
Between January and September, BCP paid 10.2 million euros to the Resolution Fund and 28.6 million euros as a contribution to the banking sector.
Concerning today’s searches at Novo Banco, Miguel Maya declined to comment, reiterating instead his view on the “disproportionate contribution” BCP makes to the Resolution Fund.
Discussing the planned Corporate Tax reduction for 2026, Maya noted that it would have “no material effect” on the bank, suggesting that any savings from the lower corporate tax rate would be insignificant for the bank.
