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€2.7bn in NAMA deals as staff doubles to 202

STATE-owned NAMA raised €2.7bn from divestments through to the end of September last year.

Finance Minister Michael Noonan (right) confirmed that NAMA booked a gain of €132m on the sales to the end of the third quarter of 2011. This reflected profit on the disposal of loans and excess cash recovered on the sale of collateral.

Nama does not record profits when it sells properties unless the amount raised is more than the borrower's total loans, Mr Noonan added.

Meanwhile, staff numbers at the state agency now stand at 202, having doubled since the end of 2010. Staff were paid an average of €88,500 last year.