The National Asset Management Agency has today transferred another €250m from its surplus to the Exchequer.
NAMA said this marks its second such payment to the Exchequer this year and brings the 2022 programme of surplus transfers to €500m.
The latest payment brings NAMA's total surplus cash transfers to date to €3.5 billion.
NAMA, which was set up in 2009 to clean the property crash related debts from the balance sheets of the main Irish banks, increased its lifetime surplus projection to €4.5 billion during the year.
Coupled with corporation tax paid of €400m, the agency's total dividend to the State from its operations will be about €4.9 billion, of which €3.9 billion has now been paid.
NAMA said it will make additional transfers totalling €1 billion from its surplus over the coming years.
Brendan McDonagh, NAMA's chief executive, said the payments have been made possible by its continued focus on maximising the value of its assets for the benefit of the State.
"Today's transfer brings total cash delivered from NAMA to the State to €3.9 billion. This is a considerable achievement, and we will continue to endeavour to make additional significant contributions to the Exchequer in future years," Mr McDonagh said.
NAMA Chairman Aidan Williams said the €3.5 billion in surplus payments made by agency over the past three years has provided the State with a significant financial return which was not anticipated at NAMA's inception.
"NAMA is committed to delivering further value for the taxpayer from its remaining assets," Mr Williams stated.
