The chief executive of the National Asset Management Agency says it has so far approved the sale of assets worth €6.2 billion.

Brendan McDonagh told an investor conference in London that 80% of the sales were linked to assets outside Ireland. €4.3 billion of sales took place this year.

Mr McDonagh also said NAMA was on course to make a trading profit of €600m this year.

He said a large proportion of the money from asset sales would be used to pay off NAMA's debts. It aims to pay back 25% of outstanding debt by the end of 2013.

Mr McDonagh also said NAMA had approved 63 insolvency appointments so far this year, compared with 30 in 2010.