Dutch Banks Slide as Lower House Backs Boost in Taxes on Lenders

The Dutch parliament’s lower house approved raising taxes on banks and adding a levy on share buybacks, sending lenders’ shares lower.

The proposal by the opposition Green Left and Labor parties, designed to aid low-income households ahead of an election on Nov. 22, unexpectedly passed late Thursday. It requires approval in the Senate and the Finance Ministry may advise against it after evaluating the measure’s feasibility. ABN Amro NV and ING Groep NV both declined by more than 5%.

The plan adds to investor concern that European banks face stiffer taxes as governments seek support for households squeezed by inflation. ...