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Report: CEO says BAWAG poised to announce acquisitions

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Report: CEO says BAWAG poised to announce acquisitions

CEO ByronHaynes told Reuters that Austria's BAWAG P.S.K. hopes to announce one or two acquisitions"over the next weeks and months."

"Thereare a number of interesting opportunities both domestically and internationallywhich we continue to pursue," Haynes said. He was speaking after BAWAGreported first-quarter net profit of €182.3 million, up from €120.7 million inthe year-ago period.

Profit wasboosted by a one-off tax benefit of €61 million, BAWAG said, adding that thisis expected to reverse over the course of the year.

BAWAG ismajority-owned by U.S.-based Cerberus Capital Management LP and .