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Jyske Bank eyes sale of Gibraltar unit over Brexit concerns

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Jyske Bank eyes sale of Gibraltar unit over Brexit concerns

Denmark-based Jyske Bank A/S has begun a process to sell unit Jyske Bank (Gibraltar) Ltd. and has received interest from several "serious buyers."

Jyske Bank cited Gibraltar's situation with regard to Brexit as a reason for the move, saying the British territory at Spain's southern coast could be subject to rules different from the rest of the group once Britain exits the EU.

Following market developments and the group's previous closure of international activities, Jyske Bank also said there are "no longer any crucial synergies" between its operations in Denmark and Gibraltar, and that there is no longer the same strategic match between the group and the unit.