The Mexican unit of Spanish bank Santander said on Friday it will buy Dutch bank ING Groep NV's mortgage business in Mexico to become the country's second-biggest provider of home loans, Reuters reported. Santander Mexico, Mexico's third-largest bank, will pay 643 million Mexican pesos ($50.70 million) in cash for the 12.3 billion peso mortgage book, according to a statement. The deal will make Santander Mexico the country's second-largest mortgage provider. ING, bailed out by the Dutch state in 2008, is shedding its insurance, investment management and other assets through disposals or listings and is cutting thousands of jobs to repay state aid and bolster its capital.