Figures from the National Asset Management Agency show that it made a profit of €317m in the third quarter of last year.
But the percentage of performing loans - loans which are generating some form of income for NAMA - fell to 21% from 23% in the previous quarter. The agency blamed the fall on the sale of a number of income-generating assets.
During the three months from July to the end of September, NAMA took in €1.8 billion from borrowers. It repaid €500m in debt and also advanced €71m to developers to allow them to complete projects.
NAMA chairman Frank Daly said the agency remained on course to repay 25% of its debt by the end of 2013.
NAMA also said Finance Minister Michael Noonan had given it approval to launch a scheme aimed at generating activity in the residential mortgage market. It said the European Commission was now reviewing the initiative.
Last year, NAMA announced plans for a deferred payment scheme for home buyers, which would link payment to the value after five years of any NAMA property bought.
NAMA has also announced that it has appointed a single receiver to properties in the Liam Carroll Group. Before NAMA was established, four receivers had been appointed by a number of banks to properties in Mr Carroll's property empire.
After NAMA took over the related loans, it decided that a single receiver would simplify the process. It has now appointed Deloitte as the receiver to the properties.
