Ireland Begins Sale of State Stake in PTSB

Permanent TSB (PTSB) has commenced a formal sale process, appointing Goldman Sachs to run the process while Ireland’s finance department named Rothschild & Co and William Fry as advisers. The State owns roughly 57–57.5% of PTSB and would exit its last remaining banking sector shareholding if the sale completes; Finance Minister Paschal Donohoe has voiced support for recovering taxpayer funds. PTSB said operations are unaffected, reiterated full-year guidance, signalled plans to restart dividends next year and is targeting a return on tangible equity of about 9% in 2027 and 11% in 2028, driven by its mortgage franchise. The bank’s market value is roughly €1.29–€1.3 billion after a year-to-date share surge, and the stock jump helped lift the ISEQ even as wider European markets were subdued. Commentators say a sale would be the biggest shake-up since Ulster Bank and KBC’s exits, with speculation about strategic buyers including Spain’s Bankinter — which has downplayed acquisition plans — while PTSB’s board says the process aims to find a long-term owner to support future growth.