The National Asset Management Agency has updated reported a profit for the three months from July to September of €40m. 

This brings its profits from January to September to €31m and compares with a profit of €60m over the same period in 2019.  

NAMA incurred a loss after tax of €9m the months from January to June 2020, but this loss has been turned around now following its return to profit in the third quarter. 

The state agency is still on course to return €1 billion of its projected lifetime surplus of €4 billion to the Exchequer this year. It made a payment of €2 billion last year. 

In comments made in an interview with the Bloomberg news agency this week, NAMA's chief executive Brendan McDonagh indicated that its final lifetime surplus may be greater than €4 billion and closer to €4.8billion. 

This would include projected corporation tax payments of €400m, Mr McDonagh said.