Greece’s largest lender based on assets, Piraeus Bank, said Tuesday it is looking into striking a deal with US based private equity group KKR to manage €600 million ($670.1 million) of its problem loans.

Piraeus Bank's deputy chief executive, George Poulopoulos, who is also acting chief executive officer of the Greek lender, told The Wall Street Journal, that Piraeus Bank "is examining" the possibility of teaming up with KKR to restructure these loans. An announcement may be made soon after the summer, Mr. Poulopoulos said.