Business Irish

Thursday 17 August 2017

NAMA to transfer €13bn of loans 'in weeks'

Frank Daly, chairman of the National Asset Management Agency, said about €13bn of loans will probably transfer to the agency from banks "over the coming weeks.’

NAMA will complete all transfers by February, Daly said in a speech in Kildare today.

He also said he doesn’t expect the discount on the second tranche of loans transferring to the agency to change “enormously’‘’ from the first batch.

‘‘The discount on the first tranche was 50pc,’’ Daly said.

‘‘I don’t expect it to change enormously. Until we get the loans across, we won’t know the exact figure.’

Bloomberg

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