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NAMA reports profit of €35m in nine months to September

NAMA generated €170 million during the period.
NAMA generated €170 million during the period.

The National Asset Management Agency (NAMA) has reported a profit of €35 million for the nine months from January to September 2023.

NAMA generated €170 million during the period, with a further €74 million generated between 1 October and 15 December.

This brings the total cash generated since inception to €47.6 billion.

NAMA transferred €3.85 billion from its lifetime surplus to the Exchequer, with €3.5 billion transferred to the end of September and a subsequent €350 million transferred in December.

It expects a lifetime contribution to the Exchequer, between the projected surplus of €4.5 billion and projected total tax payments of €400m, to be €4.9 billion.

In 2023, NAMA said it delivered 423 new homes, with a further 440 under construction or have funding approved for construction, subject to commercial viability.

Up to September, NAMA said it has delivered a total of 34,168 homes - of these, 14,219 homes were delivered directly through NAMA funding and 19,949 delivered indirectly on sites sold by NAMA debtors or refinanced.