SEOUL, Sept. 23 (Yonhap) -- The head of one of the nation's seven savings banks whose operations were suspended due to capital shortages last week was found dead in an apparent suicide Friday, police said.

Jeong Gu-haeng, 50-year-old president of Seoul's Jeil 2 Savings Bank, appears to have jumped from his office on the sixth floor of the bank's main office building in central Seoul, police said as prosecutors raided the head offices of the seven banks in search of clues for possible irregularities by their executives and large shareholders.

"We are now investigating into the exact details of the incident," a police officer said.

The suspensions led to massive deposit withdrawals and protests by depositors concerned with potential savings losses.