January 3, 2013 / 3:01 PM / 5 years ago

Ireland's NAMA generated 10.5 bln euros in cash by end-2012

DUBLIN, Jan 3 (Reuters) - Ireland’s state-run National Asset Management Agency (NAMA) generated 10.5 billion euros ($13.9 billion) from asset disposals and other income by the end of 2012, up from 9.5 billion two months earlier, the so-called “bad bank” said on Thursday.

NAMA, created in 2009 to purge Irish banks of some 74 billion euros of risky property-related loans, said two-thirds of the cash related to asset sales, with the rest coming mainly from rental receipts from properties controlled by debtors.

The agency, which has so far made most of its asset sales outside Ireland, said in its end-of-year review it had sold 3,900 individual properties.

NAMA, charged over its planned 10-year lifespan with recovering the 32 billion euros it paid at a discount for the troubled loans, said it remained firmly on target to achieve its 2020 debt reduction milestone.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below