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NAMA transfers another €250m to Exchequer

Today's latest payment brings the total cash paid over by NAMA to €3.666 billion to date
Today's latest payment brings the total cash paid over by NAMA to €3.666 billion to date

The National Asset Management Agency has today completed another €250m cash transfer to the Exchequer.

This latest payment brings the total cash paid over by NAMA to €3.666 billion to date.

It also marks the sixth payment to the Exchequer from NAMA's lifetime surplus with cash transfers totalling €3 billion already completed.

NAMA has also made corporation tax payments totalling €416m to date.

NAMA recently increased its lifetime surplus projection to €4.5 billion, meaning its total dividend to the State from its operations will be of the order of €4.9 billion.

NAMA said it plans to make additional transfers totalling €1.25 billion from its surplus over the coming years, including a further payment of €250m by the end of 2022.

All surplus transfers are subject to market conditions, it added.

"This is a considerable achievement enabled by our strong cash position and continued profitability," Brendan McDonagh, NAMA's chief executive.

"Our projected lifetime contribution to the State, including tax paid, now stands at €4.9 billion and we will continue to make significant contributions to the Exchequer by end 2022 and in future years," he added.