The National Asset Management Agency (NAMA) recorded a loss of €9m for the first six months of this year, according to its latest quarterly report.
The agency made a loss of €49 between January and March, but this was reduced by a profit of €40 over the following three months.
In total the organisation generated cash of €326m in the six month period.
A further €100m was generated between the end of June and September.
As a result, more than €45.7bn in cash has now been produced by the agency since it was first set up in 2009.
By the end of September, a total of 12,035 residential units had been delivered by way of direct NAMA funding, with a further 5,647 built on sites sold or refinanced by it.
A further 8,258 units are currently under construction or have planning permission, with 8,517 more in the planning pipeline.
Earlier this year NAMA paid €2bn to the exchequer, in the first transfer of its projected lifetime surplus.
A further €2bn is expected to be transferred during the course of 2021 and 2022.
Set up to deal with the bad debts of the banks following the financial crash, NAMA has now achieved its primary commercial objective of redeeming all of its €31.8bn of debt liabilities.
The agency says that next year its activities will be primarily focused on the intensive management of its remaining loans and secured assets and on maximising the proceeds to be realised from them.
This will include the Dublin Docklands Strategic Development Zone (SDZ) and the Poolbeg West SDZ.
But the agency has warned that the significant market disruption and uncertainty caused by Covid-19 has created a more challenging economic environment.
It says that if market conditions allow, it expects to complete much of its work by 2021 or 2022 including the majority of its deleveraging programme, its Dublin Docklands SDZ programme and its funding of residential development projects.
But it has warned, however, that if market and economic conditions deteriorate further, some projected debtor exits and asset or loan sales may not take place in line with its projections.
The likely consequence of this is that it could be left with a larger residual portfolio at the end of 2021 than the currently envisaged of €0.3 billion, it says.