Santander Raises 2018 Profitability Target
October 10 2017 - 08:56AM
Dow Jones News
By Pietro Lombardi
Banco Santander SA (SAN.MC) on Tuesday raised its 2018
profitability target following the Spanish bank's strategy
update.
Santander increased its 2018 target for return on tangible
equity--or ROTE--to more than 11.5% from 11%, citing a better
outlook in a number of its core markets.
"We continue to see excellent growth in Latin America as well as
positive trends across both Europe and the U.S.," Executive
Chairman Ana Patricia Botin said, adding that the bank's
performance in the U.K. was more positive than expected despite
slowing growth in the country's gross domestic product.
The bank confirmed its other targets, including double-digit
growth in earnings-per-share by 2018.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
October 10, 2017 08:41 ET (12:41 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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