National Australia Bank (NAB) has sold two Irish banks to Danske Bank has for 10.4 billion Danish crowns ($1.86 billion), according to Reuters.
In its first venture out of the Nordic region, Danske purchased Northern Bank and National Irish Bank. Northern Bank is the largest retail bank in Northern Ireland with 95 branches, and National Irish Bank has 59 branches in the Republic of Ireland.
NAB is expected to profit approximately $833 million from the sale to Danske, the region’s second-largest bank.