Amid growing speculation, that the government is concedering to nationalize it, it is looking for a partner, reports Financial Times.
Banque Postale was quoted by the newspaper as saying, "It had decided to take part in the process and to examine the CIF dossier."
HSBC is advising CIF and managing the sale of the social housing lender.
An international credit agency has downgraded the financial strength rating of CIF’s standalone bank, claiming that the lender was "no longer viable without ongoing financial support".
The rating agency pointed that the business was entirely wholesale-funded, and its policy of maintaining a liquidity buffer of at least six months of financing needs would see it through to the autumn.
Highlighting the solution of the prevailing problem of Banque Postale, the agency said more permanent solutions for CIF could include "a merger, strategic investment or other joint venture with a third party facilitated by the government".
Banque Postale acquisition of CIF would boost its size from €41bn to €75bn of loans, which will also provide fertile ground for its businesses as both of their sets of customers tend to be from modest financial backgrounds.
