MADRID, Sept 30 Spain's Banco Santander
said on Friday it had trimmed its profitability targets for 2018
to just above 11 percent by 2018 in a business environment it
described as "significantly worse" than last year.
At its investor day last year the euro zone's biggest bank
by market value said it was aiming for a return on tangible
equity ratio (ROTE) of around 13 percent by 2018.
The lender also weakened its cost to income ratio to a range
of between 45 percent and 47 percent by 2018, against last
year's objective of below 45 percent.
The bank's shares were down 3.8 percent against a 3 percent
drop against the European banking index.
(Reporting By Jesús Aguado and Angus Berwick; Editing by Sarah