Forces hoping to topple Mr Michael Fingleton's regime at the Irish Nationwide building society were forced to beat a retreat yesterday as loyal members rose up to overwhelmingly support their leader, writes Siobhán Creaton, Finance Correspondent.

Mr Fingleton, who has run the society for 30 years, was always confident that he would win. For the past few weeks, his loyal staff had been diligently canvassing customers to vote confidence in their managing director, or at least give their proxy to someone who would. And so last evening he claimed victory.

After a four-hour battle at the society's annual general meeting in Dublin's Burlington hotel, his enemies, lead by disgruntled members, Mr Brendan Burgess and Mr Shane Hogan, conceded.

They predicted he would win the vote of confidence by as much as 98 per cent. But they, and many others, can claim to have inflicted some wounds on the often beleaguered Irish Nationwide brand.

Some people, describing themselves as ordinary decent folk, told the meeting about attempts to evict them from their homes. "This is the shabbiest outfit I have ever seen," one man shouted.

His wife asked chairman, Mr Michael Walsh, if they could have the money back that they had been wrongfully charged? "We just want peace and quiet," she said. Another member suggested that an ethics committee should be established to assist Mr Fingleton in his role in the future.

Staff members, customers and friends quickly rallied to praise the managing director and suggested he was the victim of a witchhunt.

One man said he was glad he had come to meet Mr Fingleton and to see that he did not live up to his media portrayal as a man with a "stick and a balaclava".

Mr Walsh tried to maintain some semblance of order during the many heated and emotion exchanges during the afternoon.

The media, corralled at a safe distance from the action, were warned that only cameras and recording devices approved by the board could be used.

Director Mr Con Power was the only board member to speak to the media at various intervals.

Mr Walsh staunchly defended his managing director and told the crowd he was worth the €835,000, or €18,000 a week, he was paid last year, something that had for years been a closely guarded secret.

And so by nightfall the weary crowd retreated and Fingleton had emphatically won the battle of the Burlington, the first real challenge he has faced during his long reign.