The National Asset Management Agency says it generated income of €89.5m in the third quarter to the end of September on a loan portfolio that has grown to about €27 billion.
By the end of September, NAMA had acquired €27.3 billion in loans from the five participating institutions. It bought those loans for €13 billion. It added that as of today, the agency has bought €71.2 billion of loans for €30.2 billion - a discount of 58%.
The agency published its third quarter report today and said that 25% of its loans were performing at the end of September.
In the three months from July to September, NAMA advanced €126m to borrowers to complete projects and fund working capital. The agency said last month that it has approved a total of €592m in working capital up to the middle of February.
The agency had cash balances of €623.3m by the end of September, up €143m on the second quarter of 2010. It ended 2010 with cash balances of over €800m.
NAMA chairman Frank Daly said that quarter was 'exceptionally busy' as the agency began detailed consideration and planning for the management of the biggest debtors whose loans were bought and for the purchase of the final loans which were transferred in the last quarter of the year.
'By the end of December 2010, we had successfully acquired almost all the loans originally envisaged for NAMA,' he added.