BANK OF Ireland has again resisted a proposal to transfer the College Green branch in Dublin city to the State to be turned into a literary centre.

Responding to a suggestion from a shareholder at yesterday’s egm that the city centre building be handed over to the State, the bank’s governor, Pat Molloy said the branch was valuable to the shareholders.

Des Sheridan, a former bank employee from Mullingar, said that while the branch was “the cornerstone of the bank”, it was valuable to the State and should be delivered to the citizens given that taxpayers were “going to keep this bank on the road”.

“Why not have the decency to hand over Bank of Ireland College Green to Jimmy Deenihan and let him use it for the purposes that he has mentioned?” he said.

“It is a flagship building. It is a credit to the country. It can do something for this country.”

Mr Molloy replied: “It is also, of course, of considerable value to the shareholders and the stockholders; we can’t forget that either.”

Mr Deenihan asked the bank in May to acquire the building. But his approaches have been rebuffed by the bank.

Its response was that the branch was central to its business.

The Minister is talking to the bank and a source close to him said he has “a very clear understanding of how he would like to see this iconic building being used”.

Mr Deenihan has asked the Arts Council to carry out a scoping report on the cost of turning it into a literary centre, the source added.