Impact of prosperity tax on banks manageable - Bank Negara

The impact of the proposed cukai makmur (prosperity tax) under the recently announced Budget 2022 is expected to be manageable on the banks, given that it is a one-off tax, said Bank Negara governor Nor Shamsiah Mohd Yunus.

“Although cukai makmur will lower the banks’ retained earnings for next year, their overall profitability is expected to remain, supported by improvements in loan growth...