MADRID, Nov 27 (Reuters) - Spain’s Caixabank said on Tuesday it aimed to increase its return on tangible equity ratio (ROTE) to above 12 percent by 2021 from 9.4 percent at end-September 2018, buoyed by a shift towards a more profitable insurance lending business.
Spanish banks are struggling to lift earnings from loans as interest rates hover at historic lows and increasing competition erodes margins. (Reporting By JesĂşs Aguado; edited by Paul Day)
