Bank ‘fully committed to remaining independent’

BANK of Ireland’s management is fully committed to keeping the company independent and avoiding full Government ownership.

Addressing shareholder questions at yesterday’s vote on the bank’s participation in NAMA, group chairman Pat Molloy said there was a “much higher risk” of not maintaining corporate independence if NAMA involvement wasn’t approved.

“We can’t predict how much of the bank the Government will own in the future. Much of that will depend on our ability to raise extra capital. But it is very much our determination that this bank will remain independent,” Mr Molloy added.