MADRID (Reuters) - Spain's Banco Popular (>> Banco Popular Espanol SA) is studying making an offer for Portuguese bank Banif (>> Banif Banco Internacional do Funchal SA), a source close to the process said on Thursday.

Banif is seeking a buyer for the state's 60.5 percent stake in the bank.

"Banco Popular is analysing presenting an offer for Banif, as it studies any other offer," the source said.

(Reporting by Jesus Aguado, writing by Adrian Croft, editing by Sarah White)