Wednesday 18 January 2017

NAMA paid €75m to developers in the second quarter of the year reporters

Published 16/11/2011 | 19:06

THE NATIONAL Asset Management Agency, the body designed to purge the banks of developer loans, paid €75m to builders for working capital in the second quarter of the year.

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It was paid €874m by debtors and €51m from derivative payments, in the same period.

But the number of performing loans on its books still stands at just 23pc.

In the quarter, NAMA generated €828m from operating activities.

But the figures announced today do not take account of impairments to €31.7bn in property loans taken from the banks.

NAMA chief executive Brendan McDonagh has already indicated that he expects the agency to suffer an impairment charge for 2011 at the end of the year.

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