Thursday 18 January 2018

BoI's AGM not exactly packed

There were obviously big expectations for the turnout at yesterday's Bank of Ireland AGM. But inside the O'Reilly Hall at UCD, it resembled a mediocrely attended lecture, with just 200 or so shareholders having made the trip to have pops at, or heap praise on, the bank and its board.

Last year, the AGM was held at the Burlington – a smaller venue, but the turnout was much higher.

Shareholders berated the board for holding the AGM at 9.30am. They argued that it prevented many from attending as they would have to travel long distances and making it to Dublin by that time was too difficult.

Chairman Archie Kane, below, – who noted that 9.30am was normal business hours – was badgered on the point at some length and agreed that the board would consider the timing of next year's AGM. That wasn't enough to placate some shareholders, who pointed out the board had already had a year to consider the matter.

One shareholder noted that while the board receive travel expenses for the AGM, shareholders do not. The Punt can't imagine the bank doling out hotel vouchers. That would result in a packed turnout.

Imagine how long the questioning might last then.

Irish Independent

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