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NAMA reports profit after tax of €56m for H1 2022

It generated €279 million in cash in the six-month period.
It generated €279 million in cash in the six-month period.

The National Asset Management Agency (NAMA) has recorded a profit after tax of €56m for the first half of 2022.

It generated €279 million in cash in the six-month period, with a further €200 million generated between 30 June and 23 September.

This brings the total cash generated since inception to €47.3 billion.

To date, NAMA has funded and facilitated the delivery of over 26,165 new homes, including over 24,000 units delivered since 2015.

Of these, 13,479 were directly funded by NAMA either though the provision of funding directly to debtors and receivers or facilitating development via licence agreement or joint venture.

Up to June 2022, NAMA had identified 7,577 residential units as potentially suitable for social housing from its secured portfolio and offered these to local authorities or approved housing bodies.

However, it said many of these units were "not required at the time, deemed unsuitable or unviable, subsequently became unavailable or are still under consideration".