Austrian bank Bawag linked with move for Permanent TSB

Bawag chief executive said Irish market robust and a core country for the bank

Austrian banking group Bawag has said it is assessing acquisition targets as it emerges as a potential buyer for Permanent TSB. Picture: Andres Poveda

Austrian banking group Bawag has said it is assessing acquisition targets as it emerges as a potential buyer for Permanent TSB.

Bawag chief executive Anas Abuzaakouk said the company expects to make a decision over how to use surplus capital in the next three months, amid links to Permanent TSB, Ireland's third-largest bank.