The deadline for submitting offers for Alior Bank ends on Friday, September 7. The bank has 1.3 million clients and is said to be the target of numerous private equity funds, one of which is negotiating a joint takeover with Poland's largest insurer PZU, reported Parkiet.

Some of the private equity firms reported to be interested in Alior include Blackstone, Apax, CVC and KKR. Several firms are already conducting due-diligence tests on the bank and they are set to make concrete offers before the deadline is over.

It is reported that PZU is being seen by one of the firms as a local partner which would hold a minority stake in the bank. The owners of Alior want zł.4.5 billion for the bank.

At the end of June 2012, Alior had deposits of zł.13.6 billion and had awarded loans of zł.12.3 billion. In H1 2012, the bank had net profits of zł.133 million.

Remi Adekoya