NAMA publishes a report every quarter under Section 55 of the NAMA Act. The latest report for Quarter 1 2020 has been shown to the Oireachtas and is accompanied by a letter to the Minister for Finance, Pascal Donohoe.
The main points of interest include losses for the period of Janurary-March 2020 of €49m, which compares to the same period in 2019 which saw profits of €41m
The report also indicates that these losses reflect adjustments in the value of NAMA debtor loans to take into account the market uncertainty and lack of visibility of market disruption arising from Covid-19.
They also revealed that the total cash generated in the period January-March 2020 was €226m, bringing total cash generated from inception to end-March to €45.5bn.
Some of key activity of this year- including the transfer of the first €2bn of NAMA’s projected €4bn lifetime surplus, were the redemption of the final €1.064bn in subordinated debt and the State increasing its shareholding in the NAMA SPV from 49% to 100%
