German bank to sell off Irish unit

NASSAUISCHE SPARKASSE, a regional German savings bank, will sell its Irish unit to the Hesse-Thuringia savings banks association as it exits the capital-markets business.

Naspa, based in Wiesbaden, Germany, plans to sell the business for about €250 million to concentrate on lending to retail, corporate and municipal clients.

Naspa Dublin has a balance sheet of €4.2 billion, it said.