September 30, 2016 / 8:56 AM / 10 months ago

BRIEF-Spain's Santander cuts profitability target for UK business

1 Min Read

Sept 30 (Reuters) - Spain's Banco Santander :

* Says cuts return on tangible equity ratio target (ROTE) for UK business in 2018 to between 8 and 10 percent from the range of between 12 and 14 percent set out in the previous strategy plan

* Says cuts cost to income ratio target for British unit to between 50 and 52 percent in 2018 from a previous target of below 50 percent

* Source text for Eikon: Further company coverage: (Reporting By Madrid Newsroom)

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