The National Asset Management Agency (NAMA) has reported a pre-tax profit for the first nine months of last year of €69m.
In its latest quarterly report, given to the Minister for Finance, NAMA says that between January and September, it generated cash totalling €387m.
Over the final quarter, it added a further €100m to that figure, bringing the annual cash generation figure to €487m.
That compares to €671m in 2021.
In total NAMA has now produced €47.4 billion through its activities since it was set up.
By the end of last year, it had transferred a total of €3.9 billion of that to the exchequer.
€3.5 billion of that came from its cash surplus, while the balance was a result of payments of corporation tax.
€250m was transferred on December 20th.
Over the entire course of its existence, the agency now predicts it will hand over €4.9 billion to the exchequer.
The report also details how NAMA has funded and facilitated the delivery of over 28,040 new homes, including over 25,894 units delivered since 2015.
"Of these, 13,727 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," it says.
"A further 14,313 were delivered on former NAMA-secured sites which benefitted from NAMA asset management and/or funding prior to their sale or refinance."
The agency said that at the end of September, 532 residential units had been delivered and a further 487 units were under construction.
Around 1,214 units had NAMA funding approved subject to confirmation of their commercial viability at time of commencement.
"However, commercial viability is a significant challenge in the current market, and it is possible that NAMA will not advance funding for all 1,214 units," it warns.
NAMA's remaining secured landbank is estimated to have the potential to deliver circa 18,200 new homes in the medium to long term, it adds.
