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Investigates Investigates Money Diaries The Journal TV Climate Crisis Cost of Living Road Safety Newsletters Temperature Check Inside the Newsroom The Journal Investigates Daft.ie Property Allianz Home The 42 Sport TG4 Entertainment The Explainer A deep dive into one big news story Sport meets news, current affairs, society & pop culture have your say Or create a free account to join the discussion Advertisement More Stories People using Permanent tsb ATMs in Co Cork.Alamy Stock Photo Permanent TSB What does Permanent TSB putting itself up for sale mean for customers? We’ve broken down what’s going on with the Permanent TSB sale and how it will impact customers. 4.02pm, 30 Oct 2025 Share options PERMANENT TSB BANK is up for sale and seeking to return to private ownership after being bailed out by the government along with other banks during the financial crash. A Formal Sale Process for the Permanent TSB (ptsb), which is majority owned by the State, was launched today to find a new long-term owner. We’ve broken down what’s going on, why and how it will impact customers. Why is the bank up for sale and who’s going to buy it? The bank’s board said they have decided now is the right time to seek a new owner as it has returned to profitability and they have seen an increase in appetite for its shares from international investors. This has led to speculation that the bank will be snapped up by a European or international buyer. Joey Sheahan from MyMortages.ie told The Journal the buyer will likely be an international bank or an investment fund. He tipped the Spanish financial services company Bankinter as one who might be interested, but said a private investor could come in and buy majority shares either. He said that if the bank is bought it will be a “vote of confidence” in the Irish banking industry. And what does the sale mean for customers? Sheahan thinks that regardless of who ends up buying the bank, customers are likely to benefit, as the owner will want to make their bank more attractive to new and old customers. “A new owner will seek to enhance the offering through maybe new technology or more competitive rates,” he said. Advertisement In a statement released today Independent Ireland TD Richard O’Donoghue said that if the bank is bought by an international buyer it could undermine stability and competition in Ireland’s banking system. But Sheahan disagrees, he said another privately-owned bank on the Irish market will improve competition, something he said will result in better options for customers. What does it mean if I have or am looking for a mortgage? The mortgage advisor said that the change in ownership will have “very little impact” for people who currently have or are looking for mortgages with the bank. “If they’re on a fixed rate, and most people are, it will continue for the remaining term,” he said. Once the term ends the new owners could change the rate but Sheahan thinks this is unlikely as it would make them less popular. Why was the State involved in the first place? Ptsb is the last major state-owned bank left – the Government sold its last shares in Bank of Ireland in 2022, and in AIB during the summer. During the financial crash the government injected billions into Irish banks to prevent them from failing. The main banks involved were Bank of Ireland, Allied Irish Bank, Anglo Irish Bank, Irish Life and Ptsb. Before the 2008 financial crash, banks were over-reliant on property-related loans, so when the property market collapsed, a significant chunk of the banks’ assets (i.e. loans) fell in value, to the point that their liabilities (i.e. deposits owed to customers) were significantly higher. The government invested its own money and borrowed from the European Union and the International Monetary Fund (IMF) to recapitalise Irish banks. As part of the recapitalisation plan, the government took shares in the banks. Which is why Minister for Finance Paschal Donohoe still has over 57% of shares in Ptsb. With additional reporting from Stevie McDermott. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Support The Journal Sophie Finn Viewcomments Send Tip or Correction Embed this post To embed this post, copy the code below on your site Email “What does Permanent TSB putting itself up for sale mean for customers?”. Recipient's Email Feedback on “What does Permanent TSB putting itself up for sale mean for customers?”. Your Feedback Your Email (optional) Report a Comment Please select the reason for reporting this comment. 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