The National Asset Management Agency (NAMA) has today completed a €400m cash transfer to the Exchequer. Today’s transfer brings the total cash paid to the Exchequer from NAMA’s surplus to €4.25 billion. In addition, NAMA has made corporation tax payments of €439m to date, bringing NAMA’s contribution to the Irish Exchequer to €4.69bn.
NAMA’s lifetime dividend to the State, prior to concluding operations at end-2025, will be at least €5.2 billion. This comprises additional cash payments and other property assets of at least €550m expected to transfer in 2025. This includes the transfer of social housing vehicle NARPS to the Land Development Agency (LDA) and other property assets, and tax payments.
Brendan McDonagh, NAMA Chief Executive, said:
“Today’s cash transfer of €400m to the Exchequer has been achieved through NAMA’s persistent focus on maximising value from its remaining assets for the benefit of the State.
To date, we have made a significant cash contribution to the Exchequer of €4.69 billion, through €4.25 billion in surplus cash transfers and over €400m in corporate taxes.
NAMA will continue to maximise value from the remaining assets and will make additional and final transfers to the State prior to the Agency’s conclusion in 2025. We anticipate a total lifetime contribution to the State in excess of €5.2 billion by end 2025.”
