BOI: €3.4bn capital raising programme will be last

Bank Of Ireland has told shareholders it will not need to ask them, or the Government, to dip into their pockets again once it completes its proposed €3.4bn capital raising programme in June.

Bank Of Ireland has told shareholders it will not need to ask them, or the Government, to dip into their pockets again once it completes its proposed €3.4bn capital raising programme in June.

The bank was this morning currently holding an Extraordinary General Meeting in Dublin where shareholders were to vote on the final details of that programme.

The fund raising exercise is the biggest in the history of the state.

BOI chairman Pat Molloy said the bank had gone through a "very rigorous" process with the Financial Regulator to determine that the €3.4bn was an adequate sum to cover expected loan impairments and income going forward.

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