Global banks are lowering their targets for return on equity to a range of ten per cent to 15 per cent, a global banking risk survey from professional services firm Ernst & Young shows.On the other hand, banks realise they must deal with impatient investors chasing higher ROEs.Fifty-five per cent of 51 international bank surveyed said Basel III would have a significant impact on costs, while 49 per cent said they would target lower ROEs.Yet "79 per cent say investors are pushing for increases in ROE," ET said."The impact of the mandated changes on strategy, cost structures and profitability [from Basel III requirements] are still reverberating throughout the industry.""Rising costs and decreasing return on equity (ROE) are driving much of the change [even though] respondents report that investors are not accepting the lower ROEs and are putting pressure on them to improve performance and increase returns," the firm said.EY highlighted a rethink on business mix to adapt to Basel III, citing "changes to business models including shifting out of less liquid instruments; exiting lines of business; streamlining legal entities and exiting countries," on a long menu of options.