Permanent TSB shareholders have voted to approve the €1.62 billion acquisition by Austrian lender BAWAG Group.
The vote at an extraordinary general meeting in Dublin clears the final major hurdle for the deal, allowing the transaction to proceed to completion.
BAWAG reported strong financial performance in the second quarter of 2026, with net profits rising 21% year-on-year to €255 million.
The approval marks a significant shift in the European banking landscape, as BAWAG moves to consolidate its presence in the UK and Irish markets.
The acquisition will see the Irish lender integrated into the Austrian group, which has been actively expanding its footprint across Europe.
BAWAG reported strong financial performance in the second quarter of 2026, with net profits rising 21% year-on-year to €255 million.
The bank attributed the growth to continued revenue expansion and ongoing cost efficiencies, providing a solid financial base for the acquisition.