According to the document obtained by 24ur.com, which will be presented in more detail in the evening news show public broadcaster POP TV, radical cuts will be needed for the bank to survive without a new injection of the taxpayer's money.

NLB meanwhile said in a press release that the preparations for an overhaul of the bank had been in full swing since the beginning of the year and were now entering the final phase.

After the management discusses the plans with employees and unions, it will present them to the public at the end of the month, the bank said.

It added that the goal was to turn NLB into a lean bank which will focus on its core banking activities that have the highest added value.

NLB will in the future specialize in small banking and will service not only big but also small and medium-sized companies.

The 12 point-programme, whose implementation started with the start of term of this management, includes a reorganisation of the bank at the beginning of summer.

Apart from specialized staff, the reorganisation in the first phase includes a more centralised oversight over costs and investments and further improvements in crediting, according to NLB.

Later on, the bank will decide on optimising its network of offices and ATMs, much like its rivals are doing.

According to the bank, staff cuts will be inevitable in this process. While layoffs at the bank started at the end of 2011, they will continue at more or less the same pace.