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Finance

Axis Capital weighs possible offer for Irish bank PTSB

Published by Global Banking & Finance Review

Posted on October 2, 2026

1 min read

· Last updated: October 2, 2026

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Axis Capital Mulls €1.74 Billion Cash Offer for Permanent TSB

Axis Capital's Potential Acquisition of Permanent TSB

Details of the Possible Offer

Oct 2 (Reuters) - Dublin-based advisory firm Axis Capital said on Friday it is considering a possible offer for Permanent TSB at €3.20 per share in cash, valuing the Irish retail lender at €1.74 billion ($1.96 billion).

Background on Previous Transactions

The possible offer comes three months after PTSB shareholder approved of the bank's €1.6 billion sale to Austria's BAWAG Group.

Currency Exchange Rate

($1 = 0.8887 euros)

Reporting and Editorial Credits

(Reporting by Unnamalai L in Bengaluru; Editing by Shilpi Majumdar)

Key Takeaways

  • Axis Capital’s €3.20‑per‑share proposal would significantly outbid BAWAG’s earlier €2.97‑per‑share (≈€1.62 billion) offer (bawaggroup.com)
  • PTSB shareholders approved BAWAG’s offer in July with over 91 % support, though the deal remains subject to regulatory and court approval (tradingview.com)
  • The BAWAG-PTSB scheme awaits High Court sanction in Q4 2026 or Q1 2027, meaning Axis’s interest introduces a potentially competitive twist near completion (ptsb.ie)

References

Frequently Asked Questions

Who is considering a possible offer for Permanent TSB?
Dublin-based advisory firm Axis Capital is considering a possible cash offer for Permanent TSB.
What is the offer price Axis Capital is considering for PTSB?
Axis Capital is considering an offer of €3.20 per share in cash for Permanent TSB.
How much does the offer value Permanent TSB?
The possible offer values Permanent TSB at €1.74 billion ($1.96 billion).
What recent event followed this possible offer for PTSB?
The offer consideration comes three months after PTSB shareholders approved the bank's €1.6 billion sale to Austria's BAWAG Group.

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