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Our Bureau

Thiruvananthapuram , Aug. 19

The All India Bank Officers Confederation (AIBOC) has opposed the proposed merger of Lord Krishna Bank (LKB) with Centurion Bank of Punjab.

Mr V.K. Jaganathan, State Secretary of AIBOC, said in a statement here on Saturday that the contribution of LKB to the economy of Kerala had been significant. The bank has given due importance to priority sector advances, agricultural financing and micro finance all these years.

Once merged, the values, culture and priorities so far followed by the bank will completely undergo a change and profit making will be the only agenda in the future.

Besides, there was every possibility that the rural and semi-urban branches of the bank would either be closed down or relocated, the statement said.

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