Four Greek banks have made offers for state-controlled Hellenic Postbank, a senior banker close to the process has said, in the latest step in the battered sector’s consolidation. Postbank, 44 per cent government-owned and deemed to be not viable, is being divided into two parts – a “good” business that will be sold or run as a stand-alone entity, and a “bad” bank that will be liquidated.

Alpha Bank, Attica Bank, Eurobank and National Bank have all made non-binding offers for Postbank, the banker said. Greek banks have been consolidating to cope with the fallout from the country’s devastating debt crisis.– (Reuters)