Minister for Finance Paschal Donohoe has confirmed that he is aware of Permanent TSB’s decision to put itself up for sale and that he supports the move.
Ireland’s third-largest bank has initiated a formal sale process aimed at finding a new long-term owner, reports Breaking News.
The bank stated that its day-to-day operations remain unaffected by the development and assured customers that it will continue to provide normal services.
Minister Donohoe currently holds 313,382,197 ordinary shares in PTSB, amounting to 57.4% of the bank’s issued share capital, reports Breaking News.
In a statement issued on Thursday morning, Minister Donohoe said: “PTSB has made great progress in building a strong competitive franchise in the Irish retail banking market as evidenced by its Q3 2025 trading update released today,” reports Breaking News.
“With increased investor interest in European banks, this presents the State with the opportunity to exit its last remaining shareholding in an Irish bank after 17 years,” reports Breaking News.
“The State’s investment in PTSB was made during the financial crisis to safeguard the stability of the banking system and protect depositors.
“A sale of the State’s investment would be consistent with the objective of recovering taxpayer funds that were used to rescue the Irish banks and deploying these to more productive purposes,” reports Breaking News.
“The State has and continues to be very supportive of PTSB, and the Government believes that it is in the long-term interests of PTSB and citizens in general that the Bank be returned to full private ownership.
“PTSB is an important part of the retail banking market and wider Irish economy, and its continued sustainable growth provides choice to consumers,” reports Breaking News.
The Minister currently holds 313,382,197 ordinary shares in PTSB, representing 57.4% of the issued share capital of the bank.
The Department of Finance has engaged Rothschild & Co as financial adviser and William Fry as legal adviser to oversee the Formal Sale Process (FSP), reports Breaking News.
Tell us your thoughts in the Facebook post and share this with your friends.
