The National Asset Management Agency made a profit after tax of 247 million euro last year – compared to a loss of over one billion euro in 2010.
However NAMA’s annual report shows it recorded an impairment charge of 1.27 billion euro in 2011.
The agency acquired a further 2.8 billion euro worth of loans last year – bringing the total to 74 billion – which NAMA paid the banks 35 billion euro for – representing a discount of 57 per cent.