PTSB increases revenues ahead of vote to sell to Austrian lender

Shareholders will vote tomorrow on board recommendation to accept €1.6bn

The deal would value PTSB as €1.6bn based on an all-cash offer of €2.97 a share.

PTSB increased revenues and its loan book in the first half of the year as it looks to complete its sale to Austrian lender BAWAG ahead of a vote on the sale by shareholders tomorrow.

In a trading update, PTSB said underlying profit before tax was up 34% to €68m, with revenues of €344m up 7%, its loan book up 4% and deposits up by 2%.