Barclays PLC and Royal Bank of Scotland Group PLC may pay the most among European banks to satisfy President Obama's proposed tax on banks, two analysts said.

Barclays and RBS may face annual costs of $967 million and $621.9 million, respectively, Jaap Meijer, an analyst at Evolution Securities Ltd., wrote in a research note Friday. Credit Suisse Group AG may pay $557 million, and HSBC Holdings PLC, $484 million, Evolution said.

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