Jyske Bank A/S agreed to sell Jyske Bank (Gibraltar) Ltd. to investment firm Rooke Investments Ltd. for an undisclosed amount in light of more complex regulations for the unit when Britain leaves the EU.

Under the deal, which remains subject to regulatory approval, Rooke Investments will keep the unit's current business model and focus on the retail mortgage sector and other existing markets. For a period, the Danish banking group will continue to support Jyske Bank (Gibraltar), which will operate under a new name, for a seamless transition.

Additionally, Jyske Bank said Christian Bjørløw and Lars Aarup Jensen will keep their roles as CEO and managing director, respectively, of the unit.