Latin America to Give 45% of Santander Profit in 2010, Luzon Tells El Pais

Latin America will contribute about 45 percent of profit this year for Banco Santander SA, up from 36 percent in 2009, Francisco Luzon, head of the bank’s business in the region, said in an interview with El Pais.

Santander expects to buy banks in Colombia and Peru to boost its presence in the region, Luzon told the newspaper. Santander doesn’t plan for now to sell a stake in its Mexican business but doesn’t discount the possibility of doing so in the medium term, he said in the interview.

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