Washington Mutual Inc (WaMu), the largest savings and loan association in the United States, has approached a number of private equity firms to gauge their interest in a takeover to shore up its financial position, the Wall Street Journal reported on Thursday.

The Seattle-based lender has lost more than 90 per cent of its share value in the past 12 months, suffering the effects of the credit crisis. Chairman Kerry Killinger stepped down in June 2008.

Amongst the interested parties are the Carlyle Group and Blackstone, along with Texas billionaire Gerald J Ford, the newspaper reported.

Banking institutions also interested in WaMu include the Spanish Banco Santander and the Canadian Toronto-Dominion.

Finance houses Citigroup, JP Morgan Chase and Wells Fargo decided last week against an investment in the bank.