NAMA makes €10.5bn in three years

on 03/01/2013 15:01:06

NAMA has generated €10.5bn in cash flow since its inception almost three years ago.

In its latest summary of progress, the National Asset Management Agency said that it has sold €6.9bn worth of assets and made a further €3.6bn from rental income.

€3.5bn worth of Senior Bonds were redeemed during the year, which NAMA Chairman Frank Daly has said will go a long way in repaying the debt it incurred in acquiring its loan portfolio.

Referring to its deferred payment mortgage initiative, Nama said 100 of its properties have gone sale agreed, with a value in excess of €18m.

The agency has also identified close to 3,900 residential properties for social housing.