Austrian bank BAWAG said on Wednesday it has submitted a non-binding proposal to acquire Irish bank Permanent TSB as part of a sales process launched last October. BAWAG said the proposal could lead to an offer but that was undecided at this stage. Earlier, PTSB said BAWAG was one of a number of parties interested in the group. "PTSB is an important part of the retail banking sector and wider Irish economy, and its continued sustainable growth is critical to ensuring competition in the market and providing choice to consumers. There is no impact to customers as a result of this announcement, and PTSB’s operations, products and services remain unaffected by the Formal Sale Process.

Source: Irish Examiner March 18, 2026 16:35 UTC