NAMA completes second surplus transfer to Exchequer

The National Asset Management Agency (NAMA) has today completed a €200m transfer to the Exchequer. This is the second payment to the Exchequer from NAMA’s lifetime surplus and follows a €2bn transfer in June 2020.

Today’s transfer is the first of a number of planned payments that will total €1bn to the Exchequer over the course of 2021.

NAMA will make additional transfers in 2022. All surplus transfers are subject to market conditions.

Brendan McDonagh, NAMA Chief Executive, said:

“2021 will see NAMA build on the progress we demonstrated in 2020, with additional transfers to the Exchequer totalling €1bn over the course of the year, subject to market conditions.

2020 was another strong year of profitability for NAMA – its 10th 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.”

Aidan Williams, NAMA Chairman, said:

“Today’s €200m payment to the Exchequer, like the €2bn payment last year, has been made possible by NAMA’s continuous focus on maximising the value of its assets for the benefit of the State and the taxpayer.

The lifetime surplus being generated by NAMA gives the State significant additional financial resources at a critical time. NAMA is committed to playing its part in helping the State address the financial and economic challenges created by the pandemic.”