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Permanent TSB Group Holdings plc (ILPMY) M&A Call Transcript

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BAWAG Group announced a strategic acquisition of Permanent TSB, Ireland’s state-backed bank, in April 2026 after securing approval from PTSB’s board and Ireland’s finance minister. The deal expands BAWAG’s Irish footprint, leveraging PTSB’s local expertise and community focus to strengthen its competitive position in a high-growth market with robust economic fundamentals. CEO Anas Abuzaakouk emphasized the transaction’s significance, citing Ireland’s attractive banking sector and long-term macroeconomic stability as key drivers for the acquisition. Both banks’ teams and advisers worked intensively to finalize the agreement, reflecting urgency and collaboration in executing the high-profile merger. The call highlighted BAWAG’s confidence in PTSB’s integration, positioning the combined entity for enhanced market share and operational synergies in Ireland’s financial sector.
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Permanent TSB Group Holdings plc (ILPMY) M&A Call Transcript

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SA Transcripts159.36K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Permanent TSB Group Holdings plc (ILPMY) M&A Call April 14, 2026 10:00 AM EDT Company Participants Anas Abuzaakouk - Chairman of the Management Board & CEOEnver Sirucic - CFO, Deputy CEO, Head of Commercial Bank Austria & Germany and Member of Management Board Conference Call Participants Mate Nemes - UBS Investment Bank, Research DivisionGabor Kemeny - Bernstein Autonomous LLPHugo Cruz - Keefe, Bruyette & Woods Limited, Research DivisionJordan Bartlam - Mediobanca - Banca di credito finanziario S.p.A., Research DivisionAman Rakkar - Barclays Bank PLC, Research Division Presentation Operator Good day, and thank you for standing by. Welcome to the BAWAG Group Update Call and Webcast. [Operator Instructions] Please note that today's conference is being recorded, and there will also be a transcript available on the company's website. I would now like to hand the conference over to your speaker, Anas Abuzaakouk, CEO. Please go ahead. Anas AbuzaakoukChairman of the Management Board & CEO Thank you, operator. Good afternoon, everyone. Thanks for joining on short notice. It's been a busy few weeks to say the least. First and foremost, we are thrilled to have been selected by PTSB to enter into this transaction. The trust and confidence placed in us by the PTSB Board and the Minister for Finance of Ireland as the bank's majority shareholder is something we take very seriously. I want to personally thank all team members involved from both banks as well as the advisers who worked around the clock to make this process a success. Ireland is an extremely attractive market for BAWAG, underpinned by a strong macroeconomic backdrop, a robust banking sector and solid long-term fundamentals. Building on our presence in Ireland, the proposed acquisition is a highly strategic opportunity to strengthen our competitive positioning by bringing together PTSB's local market expertise and commitment to community

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Source: Seeking Alpha