Anglo Irish Bank is actively on the look-out for suitable acquisitions, and is currently assessing opportunities in the US market, according to chief executive, Mr Sean Fitzpatrick. He also reaffirmed the bank's interest in ICC Bank, if it comes on the market.

Mr Fitzpatrick revealed the bank had sent one of their senior executives on a "reconnaissance mission" to assess opportunities in the New England and Massachusetts areas.

The executive, he said, had been sent there to have a "good relaxed look around and to smell the roses".

He stressed however that this does not necessarily signal an imminent move into the US for the bank. It would be interested in possibly setting up a small office in the region he said, but he ruled out any plans for a joint venture. In Ireland, Mr Fitzpatrick said the bank would be a potential bidder for the State-owned ICC Bank, but was unable to proceed with any negotiations until the Government decides on whether to put the bank up for sale.

"At the moment we don't know whether its for sale or not. The Government hasn't made a decision or asked any interested parties to make an approach," Mr Fitzpatrick said. ICC Bank would fit very comfortably with Anglo Irish Bank's business, he added. "We would be interested, but only at a certain price. If it is too high, we won't be there."

The bank would also consider potential acquisition in mainland Europe, he said.