Bawag Boosts Half-Year Profit by 19 Percent and Funds PTSB Takeover from Own Resources

The CET1 ratio measures a bank's financial strength and capital装备 and is a key metric for supervisors. At 17.4 percent, Bawag is comfortably above regulatory requirements, according to its own figures, which facilitates the equity-financed acquisition in Ireland.

At the extraordinary general meeting of PTSB scheduled for July 30, approval of 75 percent of attending shareholders is required to complete the takeover. The bank has already secured 57.5 percent of PTSB shares held by the Irish Ministry of Finance.

PTSB General Meeting on July 30

Bawag chief Anas Abuzaakouk said preparations were in full swing and that the company is in constant exchange with authorities and relevant stakeholders. "Wir sind unverändert von der strategischen Attraktivität der geplanten Übernahme von PTSB überzeugt, die einen wesentlichen Schritt in unserem langfristigen Bekenntnis zum irischen Markt darstellt", said Abuzaakouk according to the press release.

BAWAG also curtailed its dividend policy: the profit from the first half is not to be distributed. The capital thus remains within the bank and is available for the acquisition and for further strengthening the equity base.

Full-Year Outlook

The bank confirmed its full-year outlook targeting a net profit of over 960 million euros. Should Bawag reach this goal, it would be a new record in the group's history.

After the shareholder resolution, the supervisory authorities must still give the green light. If everything goes according to plan, the takeover is expected to be completed in the fourth quarter of 2026 or the first quarter of 2027. Upon a successful completion, Bawag would significantly expand its market presence in Ireland.

Next Steps and Timeline

The half-year report underscores the financial robustness of the institution at a phase in which the bank is simultaneously managing an acquisition worth billions. With the combination of growing interest business, solid profit, and a restrained distribution policy, Bawag aims to build the bridge to the Irish island from its own strength. (APA, 21.7.2026)