| S Venkat Raman, deputy vice-president, refused to comment and said he was unaware of the press release. The bank, at present, has no managing director or CEO and the chairman's post is also vacant. The daily business of the bank is run by various committees of top officials. |
| Meanwhile, the bank's employees are planning an agitation to merge the bank with any public sector bank since its financial position is very weak. |
| Employee unions had submitted a memorandum in this regard to the Union finance minister, state chief minister and opposition leader. |
| Meanwhile, sources at the bank said that there had been a considerable drop in the business and deposits had decreased by a very large extent. |
| An officer of the bank told Business Standard that total deposits might drop by Rs 500 crore during the current year since renewal of term deposits had decreased considerably. |
| Total deposits as on 31st March, 2005 was Rs 2,173 crore. As per the results of the first quarter, gross NPAs of LKB was Rs 90.65, but industry analysts feel actual NPAs would be of Rs 300 crore. |
| LKB had suffered a loss of Rs 24.4 crore in 2004-05 and thus far has not declared the financial result for the first half of the current fiscal. |
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