PTSB Announces Formal Sale Process as Ireland's Third Largest Bank Seeks New Owner

Permanent TSB has launched a formal sale process that could see Ireland's third largest bank change ownership, with the Board inviting potential bidders to participate in a confidential process supported by the Minister for Finance. The bank has assured its customers, including those across Cork, that there is no impact on their banking services and no action required.

Chief Executive Eamonn Crowley wrote to customers today confirming that the 98-branch network, contact centres, and digital services will continue to operate as normal throughout the process.

Eamonn Crowley, Chief Executive, PTSB:

"I am proud that following a period of transformational growth, PTSB is now firmly established as Ireland's third largest bank. We have a sustainable business that is competing very strongly in the Irish personal and business banking markets."

The announcement comes as PTSB seeks to build on its recent growth trajectory. The bank has emphasised that customer funds remain safe and secure, with its focus on delivering exceptional customer experience unchanged by the sale process.

Crowley added that the formal sale process represents "a positive step" as the bank continues to grow and compete in the Irish retail banking market. However, the bank has cautioned that there is no certainty any offers will be made or that a sale will be concluded.

PTSB serves customers across Cork through its branch network and digital platforms, providing personal and business banking services. The bank has stressed that customers can continue using all products and services without interruption during the sale process.

The announcement included prominent fraud warnings, reminding customers that PTSB will never request account details, passwords, or one-time passcodes via phone, email, or text. Customers receiving such requests should contact the bank immediately on 0818 50 24 24 or +353 1 212 4101.

The bank has directed customers seeking more information about the formal sale process to visit www.ptsb.ie.