Dutch bank Rabobank is expected to conduct due diligence of the State-owned ACCBank, which is on the market.

The bank, which like ACC has a focus on the food and agriculture sectors, is among the small number of financial institutions to express an interest in ACC. A spokesman for Rabobank refused to confirm the bank's interest yesterday. He said Rabobank was always looking for expansion opportunities and discussions with potential acquisition companies.

NCB Corporate Finance, which is handling the sale, would not comment on the bidders beyond saying there were a number of "serious" bids being considered.

Interest in the bank is relatively low although a number of institutions, while not submitting firm bids, will have let its advisers know they may be interested if the terms of the sale were altered.

Banks such as Anglo Irish Bank may take a serious look at ACC, if it had the scope to radically restructure its business and reduce staff numbers. First Active may also be interested. NCB is now working with those who have expressed firm interest in the bank to bring the process onto the next stage of due diligence. In the coming weeks bidders will be given access to the bank's financial details. ACC could have a price tag of between #100 million (£79 million) and #250 million but much will depend on the eventual level of interest.

ACC has a loan book worth around #2.3 billion, which includes home loans, business loans and some loans to the agriculture sector.