NAB could sell off Irish banks by November

NATIONAL Australia Bank (NAB) could complete the sale of the Northern Bank and National Irish Bank (NIB) for up to €1.7 billion by November 10 next, it emerged yesterday.

British bank HBOS are odds-on favourites to buy the banks in a move that would give it access to an Irish clearing bank and provide more competition in the Irish market.

Yesterday, NAB chief executive John Stewart said several expressions of interest in their Northern Bank and NIB have been received.