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Jyske Bank to sell Gibraltar subsidiary, citing Brexit as a factor

Denmark’s Jyske Bank Group announced yesterday that it plans to sell its subsidiary bank in Gibraltar, citing Brexit and its wider corporate strategy as key factors in its decision.

The bank has already engaged in talks with a number of “serious buyers” interested in taking over Jyske bank (Gibraltar), which employs 100 staff, most of whom are Gibraltarians.

Jens Lauritzen, the bank’s Director of Private Banking International, said the bank’s priority was to find a buyer that would take on both Jyske’s clients and its staff.

“We are already in dialogue with potential buyers and we expect to find a good solution for both the community of Gibraltar and our clients,” he told the Chronicle.

“We are working to ensure we secure as many jobs as possible.”

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