LinkedIn·Monday, 29 June 2026·29 Jun 2026

𝗧𝗵𝗲 𝗯𝗮𝗻𝗸 𝘁𝗮𝘅 𝗿𝗲𝗶𝗻𝗳𝗼𝗿𝗰𝗲𝘀 𝘁𝗵𝗲 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝗼𝗹𝗶𝗴𝗼𝗽𝗼𝗹𝘆 𝗶𝗻 𝗕𝗲𝗹𝗴𝗶𝘂𝗺. MeDirect has decided to challenge…

Alain Moreau

CEO MeDirect Bank Belgium SA/NV

𝗧𝗵𝗲 𝗯𝗮𝗻𝗸 𝘁𝗮𝘅 𝗿𝗲𝗶𝗻𝗳𝗼𝗿𝗰𝗲𝘀 𝘁𝗵𝗲 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝗼𝗹𝗶𝗴𝗼𝗽𝗼𝗹𝘆 𝗶𝗻 𝗕𝗲𝗹𝗴𝗶𝘂𝗺. MeDirect has decided to challenge the recent increase in the Belgian bank tax before the Constitutional Court — a step we would have preferred to avoid. 𝗟𝗲𝘁’𝘀 𝗯𝗲 𝗰𝗹𝗲𝗮𝗿: • We don’t contest that banks should make a substantial contribution to the national budget. • We do contest how the increase of the tax has been designed. 𝗧𝗵𝗲 𝗰𝘂𝗿𝗿𝗲𝗻𝘁 𝗳𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 𝗶𝘀 𝗳𝘂𝗻𝗱𝗮𝗺𝗲𝗻𝘁𝗮𝗹𝗹𝘆 𝗳𝗹𝗮𝘄𝗲𝗱: • It is based solely on customer deposits, ignoring other (often more volatile) sources of funding. • It no longer reflects size and scale effects, even though these are critical for absorbing the tax. • It penalises banks offering better rates to savers. • It ignores profitability, the basic principle of ability to pay. 𝗧𝗵𝗲 𝗿𝗲𝘀𝘂𝗹𝘁? The bank tax in its current format hits smaller banks 2 to 3 times harder than the large incumbents. • This is not competition-neutral. • This strenghtens the dominance of larger banks at the expense of the challengers who keep this market competitive. What is even more surprising is that no impact assessment of potential distortions to competition was conducted prior to the increase in the bank tax, even though all consulted bodies – including the ECB – had recommended one. 𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘄𝗲 𝗮𝘀𝗸𝗶𝗻𝗴 𝗳𝗼𝗿? • Not the abolition of the bank tax. • Not a reduction in its overall amount. • A fairer, competition-neutral design. Because a healthy and competitive banking sector ultimately benefits everyone. Many thanks to all journalists for their coverage: Patrick Claerhout - Trends - https://lnkd.in/eWcTNrTR and https://lnkd.in/e8tNvPbq Korneel Delbeke - De Standaard - https://lnkd.in/eJ56kQv6 Margot Vermeylen -Le Soir- https://lnkd.in/efjJmstT Pieter Suy - L'Echo and De Tijd - https://lnkd.in/ehmxnK3P and https://lnkd.in/eKxRgq4A Onlinebank MeDirect vecht bankentaks aan bij Grondwettelijk Hof https://www.tijd.be/ondernemen/banken/onlinebank-medirect-vecht-bankentaks-aan-bij-grondwettelijk-hof/10676802.html