The court had been expected to reach a judgment on his extradition to Sweden on Thursday morning but the decision has now been postponed until July 18th.
“His case is up before the court again next week but he’s on bail for now,” a court spokesman told The Local.
Prosecutor Eva-Marie Häggkvist had hoped that the suspect would be remanded in custody pending a decision regarding his eventual extradition.
“I’m surprised,” she told The Local on learning of his release.
Sweden issued a European warrant for the suspect’s arrest last summer having failed to track him down despite a major investigation following the Gävle bank robbery of October 2005.
His whereabouts remained unknown until late last summer when police suddenly received an unexpected clue.
“He called the Swedish police from Ireland and asked if he was wanted,” said Eva-Marie Häggkvist.
The suspect was finally apprehended by Irish police at an address in Bundoran in the north west of the country on Thursday July 5th.
Witnesses to the Gävle robbery described how two masked men used an axe to smash their way through a window at an office of SEB bank in the eastern Swedish city.
The men then left the bank through the broken window having filled a bag with an estimated 1.1 million kronor ($163,000).
The pair were later seen fleeing the crime scene in a stolen Volkswagen Passat.
“He is also suspected of stealing the registration plates and burning the car afterwards,” said Häggkvist.
The prosecutor added that the 31-year-old’s suspected companion was arrested last year but was later released.