The National Asset Management Agency said it completed a €200m transfer to the Exchequer today.
NAMA said this is the second payment to the Exchequer from its lifetime surplus and follows a €2 billion transfer last June.
It said that today's payment is the first of a number of planned payments that will total €1 billion to the Exchequer over the course of 2021.
NAMA also plans to make additional transfers in 2022.
All surplus transfers are subject to market conditions, it said in a statement today.
Brendan McDonagh, NAMA's chief executive, said 2021 will see the agency build on the progress it demonstrated in 2020, with additional transfers to the Exchequer totalling €1 billion over the course of the year, subject to market conditions.
"2020 was another strong year of profitability for NAMA - its 10th year of profit in a row. The Agency continues to generate strong cashflows from its portfolio in 2021 and is well placed to deliver on its targets," he added.
Aidan Williams, NAMA Chairman, said the lifetime surplus being generated by NAMA gives the State significant additional financial resources at a critical time.
"NAMA is committed to playing its part in helping the State address the financial and economic challenges created by the pandemic," he added.
