The National Asset Management Agency generated €8.6bn in cash last year, the majority of which came from asset sales.

In its end of year summary, NAMA said it made €7.8bn from the sale of loans and assets during 2014, which was put towards the redemption of €9.1bn worth of senior bonds in the year.

NAMA has now redeemed more than half of all senior bonds – to the value of €16.6bn – putting it two years ahead of schedule.

To date the agency has also raised €23.7bn in cash, with €18.7bn coming from asset sales and most of the remainder coming from rents.

NAMA also said it had funded the completion of 1,000 new homes in the Dublin area by the end of last year, with 1,000 social housing units delivered also delivered by late December.

It said further housing units would be brought on stream during the year, as part of its contribution to addressing the housing supply shortage in the Dublin area.

Meanwhile, NAMA said it had helped to save 1,000 jobs through its support of companies in examinership, and cited its involvement in a number of large projects which are due to be developed in the coming months and years – including the redevelopment of the Bolands Mills site in Dublin.