The Mexican unit of Banco Santander is planning to launch an initial public offering (IPO) in the next two years, Bloomberg reports. The lender may also sell bonds overseas in 2011.

Grupo Financiero Santander is planning IPOs in countries including Argentina and the U.K. to diversify risk. It also aims to increase total lending by about 20% this year in part by enhancing its credit-card and mortgage operations.

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