Austria 4th Largest Bank $11.7 Billion BAWAG Group to Buy Ireland 3rd Largest Bank Permanent TSB Group Holdings (PTSB) $1.9 Billion (€1.62 Billion) in All-Cash Deal, Major PTSB Shareholder Ireland Government (Minister for Finance) to Receive $1.1 Billion (€931 Million)
15th April 2026 | Hong Kong
Austria 4th largest bank BAWAG Group ($11.7 billion market value) has announced to buy Ireland 3rd largest bank Permanent TSB Group Holdings (PTSB) $1.9 billion (€1.62 billion) in all-cash deal, with major PTSB shareholder Ireland Government (Minister for Finance) to receive $1.1 billion (€931 million). Announcement (14/1/26): “Today, BAWAG and Permanent TSB Group Holdings plc (“PTSB”) have agreed, with the support of the Minister for Finance of Ireland who holds approximately 57.5% of the shares in PTSB, the terms of a cash offer by BAWAG which has been recommended by PTSB’s board of directors. Pursuant to the terms of the offer, BAWAG will acquire the entire issued and to be issued share capital of PTSB for a consideration of €2.97 per share (equivalent to a total consideration of approximately €1.619 billion). The proposed acquisition is subject to further terms being set out in the joint announcement published by BAWAG and PTSB on the date hereof pursuant to Rule 2.7 of the Irish Takeover Panel Act 1997, Takeover Rules 2022 and to conditions including, among other things, (i) the approval of the requisite majority of PTSB shareholders, (ii) receipt of any necessary regulatory and other approvals and (iii) sanction by the Irish High Court. Ireland has been a core market for BAWAG for over several years. BAWAG has been active in the Irish market since 2015 and most recently launched the MoCo brand in 2023, which is a mortgage and deposit platform. PTSB serves approximately 1.3 million customers, with a strong history as a predominantly mortgage-focused lender providing essential retail banking services through a national branch network. The total balance sheet as of year- end 2025 amounts to €30.5 billion, with €22.2 billion of customer loans and €24 billion of retail deposits.” BAWAG Group – BAWAG Group (BG) is a pan-European and U.S. banking group serving more than four million customers. The Group is committed to delivering simple and intuitive banking solutions, combining its digital-first approach with an advisory-focused branch network. BAWAG is dedicated to creating long-term, sustainable value for all stakeholders by driving operational excellence, fostering customer-focused innovation, and upholding the principles of responsible banking. Through the consistent and disciplined execution of its strategy, BAWAG Group is one of Europe’s most financially successful and efficient banking groups.
“ Austria 4th Largest Bank $11.7 Billion BAWAG Group to Buy Ireland 3rd Largest Bank Permanent TSB Group Holdings (PTSB) $1.9 Billion (€1.62 Billion) in All-Cash Deal, Major PTSB Shareholder Ireland Government (Minister for Finance) to Receive $1.1 Billion (€931 Million) “
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Austria 4th Largest Bank $11.7 Billion BAWAG Group to Buy Ireland 3rd Largest Bank Permanent TSB Group Holdings (PTSB) $1.9 Billion (€1.62 Billion) in All-Cash Deal, Major PTSB Shareholder Ireland Government (Minister for Finance) to Receive $1.1 Billion (€931 Million)
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