1315 GMT - RBC Capital Markets lowers Banco Santander's net interest income and fees forecasts and raises restructuring charge estimates for 2028, analyst Benjamin Toms writes. RBC reduces its target price on the stock to 13.25 euros from 13.50 previously, but reiterates its outperform recommendation. The Canadian bank lowers its 2028 adjusted pretax profit estimate for Santander by 2%, driven by a fall in Chile net interest income, along with lower revenue and higher costs in the rest of the group. This is partially offset by the Brazilian and Spanish divisions. RBC's 2028 estimate for reported return on tangible equity of 19.9% compares with Santander's guidance of over 20%. Shares are down 1.5% at 12.14 euros.