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BAWAG Group to Acquire Permanent TSB for €1.62 Billion

4/14/2026

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Summary

Story summary

BAWAG Group will acquire Permanent TSB for €1.62 billion ($1.92 billion).
The deal lets the Irish government exit its last financial-crisis-era bank holding.
BAWAG plans to invest in Permanent TSB.
BAWAG will maintain branch presence in Ireland to boost competition with AIB and Bank of Ireland.
The €2.97-per-share deal carries a 26% premium and is expected to close in late 2026 or early 2027, subject to approvals.

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Story summary

BAWAG Group will acquire Permanent TSB for €1.62 billion ($1.92 billion).
The deal lets the Irish government exit its last financial-crisis-era bank holding.
BAWAG plans to invest in Permanent TSB.
BAWAG will maintain branch presence in Ireland to boost competition with AIB and Bank of Ireland.
The €2.97-per-share deal carries a 26% premium and is expected to close in late 2026 or early 2027, subject to approvals.