HSBC wins NAMA financial advice contract

Updated: 17:28, Friday, 12 June 2009

The National Asset Management Agency has announced that HSBC has won the contract to give banking and financial advice to the agency.

1 of 1

It has also been announced that PricewaterhouseCoopers has won the competition to supply tax advisory services.

It is understood that HSBC will receive €250,000 for its services, while PwC will earn €200,000.

In a statement this evening, NAMA said it received 72 tenders, which were whittled down to a short-list of six firms.

The winners were chosen after interviews conducted this week.

There has been no decision yet on who will be the agency's legal advisors, but an appointment on that front is expected next Wednesday.

NAMA was set up by the Government to cleanse bank balance sheets of bad loans.

Live Player

  • Next
  • 23:20 - 23:40

    RTÉ News and Weather

  • 13:20 - 13:30

    RTÉ News and Farming Weather

  • Later
  • 21:00 - 21:30

    RTÉ News: Nine O'Clock and Weather