MADRID (Reuters) – Spain’s Santander said on Tuesday it intends to raise its return on tangible equity ratio (ROTE) for the period 2023-2025 to between 15%-17% from a current 13.37% thanks to higher lending and higher interest rates in its core markets.
The lender also unveiled in a presentation to the Spanish supervisor a new dividend pay-out policy for the period of 50% of consolidated ordinary profit, compared to the previous policy of 40%.
(Reporting by Jesús Aguado; editing by Inti Landauro)
