The National Asset Management Agency recorded a profit after tax of €132m in the first nine months of last year.

In total the agency generated cash of €552m over the period, up from €455m in the same timeframe a year earlier.

Between September and December 17, an additional €100m was added to that.

This brings to €46.9bn the cumulative cash generated by NAMA since inception, the agency said in its latest quarterly update to the Minister for Finance.

In total, €1bn was transferred to the Exchequer from NAMA last year, bringing to €3.4bn the total amount paid to the State by the agency when €400m in corporation tax payments are included.

On the housing delivery front, NAMA surpassed its target of 20,000 new homes in November of last year, reaching over 20,500 new homes delivered since the target was set in October 2015.

In total since 2014, NAMA has funded or facilitated the delivery of 22,650 new homes.

A further 20,000 units remain within NAMA's residential delivery pipeline, the agency said.

This includes 2,600 units under construction or with funding approved for construction, a further 1,200 units with planning permission and 4,200 units in the planning system.

NAMA said it is also funding pre-planning and feasibility work on other sites under the control of its debtors and receivers.

These are estimated to have a delivery capacity of 11,700 units in the longer term.

It also reaffirmed that construction of the first 600 units in the Poolbeg West Strategic Development Zone should begin this year.

NAMA also said that up to September of last year it had identified 7,094 residential units as potentially suitable for social housing from its portfolio and offered these to local authorities.