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Piraeus Bank SA (TPEIR.AT), Greece's fourth-largest lender by assets, confirmed Monday that it is interested in acquiring troubled state lender ATE Bank SA (ATE.AT), as liquidity-starved Greek banks seek to consolidate and shore up their balance sheets after being hit by Greece's debt restructuring earlier this year.

"Piraeus Bank confirms its interest in ATE Bank, however, a confidentiality clause that has been signed does not allow any further information or comment to be made," Piraeus said in a bourse filing following press speculation of a possible tie-up between the two banks.

Greece's banks have been hit hard by the country's ongoing debt crisis. They face an unprecedented liquidity squeeze as nervous savers drain deposits, while nonperforming loans have soared amid the country's deepening recession.

Earlier this month, Greece's largest lender, National Bank of Greece SA (ETE.AT), said that it had held talks with Credit Agricole SA (ACA.FR), fueling speculation that it could be a front runner to take over the French bank's ailing Emporiki Bank of Greece SA (TEMP.AT) unit.

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