NAMA publishes quarterly report for Q1 2020

NAMA publishes a quarterly report under Section 55 of the NAMA Act.

The latest report for Quarter 1 2020 has been laid before the Oireachtas and is now available on the NAMA website at the following link

The report is accompanied by a letter to the Minister for Finance, which includes the following information:

  • Loss for the period Jan-Mar 2020: €49m (Jan-Mar 2019: €41m profit), reflecting adjustments in the fair value of NAMA debtor loans to take account of market uncertainty and a lack of visibility on the full extent of market disruption arising from Covid-19 as at end March 2020
  • Total cash generated in the period January-March 2020: €226m, bringing total cash generated from inception to end-March to €45.5bn (with an additional €0.1bn generated post March to bring total cash generated at end-June to €45.6bn)
  • Key activity so far this year – including the transfer of the first €2bn of NAMA’s projected €4bn lifetime surplus; the redemption of the final €1.064bn in subordinated debt; and the State increasing its shareholding in the NAMA SPV from 49% to 100%
  • A summary of NAMA’s progress in the Dublin Docklands SDZ and Poolbeg West SDZ and an update on its residential delivery and social housing activity – please note much of the information in these updates was previously published alongside NAMA’s 2019 Annual Report earlier this month.

Article Published: 22/07/2020