Spain's largest bank Santander has announced investments totaling more than $2.0 billion over three years in its digital banking and other operations in Mexico, AFP reports.

The group unveiled the launch of its all-digital bank Openbank in Latin America's second-largest economy, which is attracting investors amid uncertainty over threats of US tariffs.

The launch "represents a significant opportunity for us to gain the trust of new digital customers," Executive Chairman Ana Botin said, a day after meeting Mexican President Claudia Sheinbaum.

Openbank already operates in Germany, the Netherlands, Portugal, Spain and the United States.

Last month, Sheinbaum unveiled a plan aimed at making Mexico the world's tenth-largest economy, with the ambitious goal of attracting $277 billion in investment.

Her government is trying to avoid the 25 per cent tariffs threatened by US President Donald Trump by stepping up cooperation in the fight against illegal drug and migrant flows. | BGNES