The National Asset Management Agency (Nama) has now transferred its full 2022 surplus to the Exchequer after making a €250m payment on Tuesday.
The latest payment brings the total paid by NAMA to the Exchequer to €3.5bn, including €250m in cash surplus and over €400m in corporation tax.
It is expected that Nama will transfer a further €1bn in the coming years before the agency, established to handle the banks' distressed assets following crash, is wound down in 2025.
Nama has increased its lifetime surplus projection to €4.5bn and projects that it will pay a total of €4.9bn to the state, subject to market conditions.
“Today’s €250m payment to the Exchequer, like the €3.2bn already paid in cash, has been made possible by Nama’s continued focus on maximising the value of its assets for the benefit of the state," said Brendan McDonagh, chief executive of Nama.
In Association with
"Today’s transfer brings total cash delivered from Nama to the State to €3.9bn. This is a considerable achievement, and we will continue to endeavour to make additional significant contributions to the Exchequer in future years.”
Aidan Williams, chairman of Nama, said: “The €3.5bn in surplus payments made by Nama during 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.”
Photo: (l-r) Aidan Williams, NAMA Chairman; Minister for Finance, Paschal Donohoe TD, and Brendan McDonagh NAMA, CEO at the launch of the NAMA Annual Report & Financial Statements 2021. (Pic: Fennell Photography)
