The NAMA Quarterly report for the second quarter of 2010, published today, reports that the NAMA Group made a profit of €6 million. However for the first half of 2010, Nama made a loss of €1m due to a cost of €7m associated with costs of setting up NAMA.
The reports are available now from http://www.nama.ie/
- Part of NAMA Report.By the 30th of June, NAMA had issued €8.1 billion in NAMA Government Guaranteed Floating Rate Notes and €425 million in NAMA Callable Perpetual Subordinated Bonds as consideration for eligible assets acquired from the five participating institutions. This represents an injection of €8.5 billion of liquidity into the Irish banking syste
Brian Lenihan has welcomed the results, saying that NAMA is "functioning well".
- Brian Lenihan TD, Minister for Finance“I welcome the €6 million profit earned by NAMA in the second quarter of 2010. I am pleased to say that NAMA is functioning well, with transparency and sound governance. The reports published today illustrate how far the Agency has come in a relatively short time.”
NAMA will manage the loans of the largest 150 debtors directly and will delegate the management of another 700 debtors to the participating institutions, within tight NAMA oversight conditions.
[ame="http://www.scribd.com/doc/40737080/NAMA-Publishes-Second-Quarter-Report-and-Accounts-Annual-Statement"]NAMA Publishes Second Quarter Report and Accounts & Annual Statement.@@AMEPARAM@@document_id=40737080&acc ess_key=key-2d9li388wi0dvp6cmmnx&@@AMEPARAM@@40737080@@AME PARAM@@key-2d9li388wi0dvp6cmmnx[/ame]