174. Deputy Brendan Smith asked the Tánaiste and Minister for Finance the measures being implemented to ensure that employment is protected and the branch network maintained in the process of the sale of an organisation (details supplied); and if he will make a statement on the matter. [54239/26]

The board of PTSB announced a formal sale process on 30 October 2025. This process was conducted under the Irish Takeover Rules and resulted in the board unanimously recommending a cash offer from BAWAG. The Tánaiste and Minister for Finance, with the agreement of Cabinet, committed to voting all of the Minister’s PTSB shares in favour of BAWAG’s cash offer.

BAWAG has set out a long-term ownership approach, including maintaining a strong and resilient PTSB, investing in the business, retaining the headquarters in Dublin, keeping a meaningful branch footprint, and safeguarding existing employment rights and pension arrangements in line with applicable law.

BAWAG noted that in its view, the PTSB branch network is a real asset. BAWAG currently do not intend to make any material changes with respect to the fixed asset base and instead note that branches could shift from being transactions based to advisory based, as it adds new products to the bank’s offering.

BAWAG has also indicated its intention to leverage its broader European expertise to strengthen the bank’s competitiveness, including in areas such as SME banking, energy-efficiency finance, and operational integration. These stated intentions formed part of the overall assessment to support BAWAG’s Recommended Cash Offer.

Completion of the formal sale process remains subject to standard regulatory approvals and the satisfaction of all conditions including the sanction of the High Court.