Northern Bank sells off-shore business

THE Belfast-based Northern Bank has sold its off-shore banking business in the Isle of Man to the Isle of Man Bank - part of the Royal Bank of Scotland (RBS) Group.

The move was a direct result of last year’s purchase of the Northern - and its National Irish Bank sister in the Irish Republic - by Danske Bank in Denmark. No price has been revealed, but Katherine James, regional manager of Northern Bank, said the company was “delighted” with the deal.

She said the Northern was very proud of the business it had built in the Isle of Man over the years.