Shareholders of Permanent TSB (PTSB) are voting today on a €1.6 billion acquisition offer from Austrian lender Bawag.
The extraordinary general meeting in Dublin represents the final hurdle for the deal, which would see the Irish bank absorbed by the Vienna-based group.
The vote determines the immediate strategic direction of PTSB, a lender with significant state backing.
Approval by shareholders is a prerequisite for the transaction to proceed, though regulatory clearance from European and Irish authorities remains a separate and critical step.
The deal reflects a broader trend of consolidation in European banking, as smaller institutions seek scale and stability through cross-border mergers.
Bawag’s interest in PTSB underscores the strategic value of the Irish market for Austrian financial groups.