Reaction: The Irish Bank Officials Association (IBOA) has welcomed the announcement of the sale of National Irish Bank and Northern Bank to Danske Bank as a positive development that will bring a sense of relief to staff.

Mr Larry Broderick, the IBOA general secretary, said yesterday that the association's priority now would be to ensure staff jobs and the terms and conditions of their employment are protected.

Danske Bank, the new Danish owners of the two banks, has indicated it won't seek widespread job cuts as part of the takeover. "Staff in both banks have gone through a traumatic few months of insecurity with endless rumours about the impending sale of the banks and uncertainty about their jobs," Mr Broderick said. The announcement ended the ambiguity about the future of the bank, he said.

The IBOA intends to hold discussions with senior management from National Australia Group, the banks' former owners, and Danske Bank shortly.