The National Asset Management Agency (Nama) has completed a €200 million transfer to the exchequer, part on a €1 billion payment to be made over the course of 2021.
This is the second payment to the exchequer from Nama’s lifetime surplus and follows a €2 billion transfer last June.
The agency continues to forecast that it will deliver a lifetime surplus of €4 billion for the State.
Nama generated €900 million in cash last year, bringing total cash generated since its inception in 2009 to €46 billion.
“2020 was another strong year of profitability for Nama – its tenth year of profit in a row. The agency continues to generate strong cashflows from its portfolio in 2021 and is well placed to deliver on its targets,” said chief executive Brendan McDonagh.
Nama had its planned lifespan extended by the last government in 2019, from 2021 to 2025, so that the agency could work through its remaining loans and legal cases.