The National Asset Management Agency (NAMA) recently published its Annual Report and Financial Statements for 2020. NAMA reports an after-tax profit of €192 million for 2020 which is its tenth consecutive year of profitability. The Agency is also increasing its projected lifetime surplus to €4.25 billion from its previous projection of €4 billion. When added to NAMA’s corporation tax payments to the State totalling €400 million to date, NAMA now expects to contribute in the region of €4.65 billion to the Exchequer over the course of its lifetime.

The report sets out that during 2020 NAMA generated €0.92 billion in cash including €0.85 billion realised from the sale of loans. Total cash generation since inception stood at €46.6 billion at end-May 2021. NAMA has been debt free since redeeming the last of its €31.8 billion debt in March 2020. The report also notes that NAMA recently completed the sale of an 80 percent interest in Project Pembroke for €200.1m which has capacity to deliver 3,800 homes.

For more information see the Department of Finance press release on gov.ie.