Intesa Sanpaolo SpA (ISP.MI) and BNP Paribas SA (BNP.FR), two of Europe's largest banks, are considering bids for the Polish operations of Greece's EFG Eurobank Ergasias SA (EUROB.AT), senior people familiar with the matter said Tuesday.

"Both Italy's Intesa Sanpaolo and France's BNP Paribas are eyeing a stake in Polbank and currently conducting due diligence," one person familiar with the matter told Dow Jones Newswires. "Eurobank is expecting preliminary bids Nov. 11, even though final bids will take longer."

Eurobank, Greece's second-largest lender by assets, has previously announced plans to seek a strategic investor for its Polish operations and may sell a majority stake in the unit, a move analysts say could net the bank some EUR400 million to EUR450 million.

"Eurobank is undertaking a series of moves to strengthen its capital base, such as through the sale of a stake in its Polish unit and the current merger with the Dias mutual fund [a closed-end investment fund listed on the Athens stock exchange]," a Eurobank official said earlier Tuesday while denying that the bank was planning a capital hike.

According to Greek press reports, HSBC Holding PLC (HBC), France's Credit Mutuel and Raiffeisen Bank International have are also considering offers for Polbank.

-By Nick Skrekas and Sabrina Cohen, Dow Jones Newswires; +30 210 2830685; nick.skrekas@dowjones.com

(Sabrina Cohen reported from Milan; Alkman Granitsas in Athens contributed to this article.)