BAWAG Group stock remains tied to Permanent TSB deal

BAWAG Group's proposed acquisition of Permanent TSB remains tied to a completion window in the fourth quarter of 2026 or the first quarter of 2027. In its October 30 trading statement, Permanent TSB said the sale was progressing as planned, while stressing that court and regulatory approval are still required.

The Irish lender reported stronger operating momentum for the first nine months of 2026. According to AJ Bell, total operating income rose 7 percent year on year and net interest income increased 9 percent. Operating costs fell 2 percent, reducing the cost-to-income ratio to 70 percent from 77 percent.

Irish Bank Shows Operating Momentum

Gross customer loans increased by more than 4 percent to 23.4 billion euros. New mortgage lending grew 10 percent, new business banking lending advanced 16 percent and new personal term lending climbed 90 percent. Customer deposits rose 2 percent to 25.8 billion euros.

Permanent TSB's net interest margin reached 2.14 percent, up from 2.01 percent. The bank also reported a pro forma common equity tier one ratio of 17.9 percent and said it remained on track for a return on tangible equity above 9 percent in 2026, compared with 7.3 percent in 2025.

BAWAG Group stock traded at 163.20 euros on Lang & Schwarz at 10:01 CET on Friday, November 6, 2026. The proposed transaction gives BAWAG an expansion platform in Ireland, but the remaining approvals and the subsequent integration will determine when the acquired business can contribute to group earnings.

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