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SAO PAULO, Nov 5 (Reuters) - Grupo BTG Pactual SA , Brazil's largest independent investment bank, will continue to target return on equity of 20 percent even if market and economic conditions remain challenging, Chief Executive Officer André Esteves said on Wednesday.
Return on equity, the most widely watched gauge of profitability in the banking industry, slipped to 17.3 percent in the third quarter, compared with a 19.4 percent estimate in a Reuters poll. Esteves spoke at a conference call to discuss earnings. (Reporting by Guillermo Parra-Bernal, Editing by Franklin Paul)