herald

Wednesday 15 August 2018

€2bn more for NAMA

NAMA will acquire fresh loans with a value of €2bn over the coming weeks. This will take the total value of loans bought from the country's banks to €74bn.

NAMA has paid just less than €31bn on loans valued at more than €72bn at the height of Ireland's property bubble.

The agency, which is one of the biggest property groups in the world, was created to purge Irish banks of their risky land and development loans.

Chairman Frank Daly said that it would buy its final group of loans over the next few weeks.

"Our loan book will shortly increase to €74bn after we acquire a last residual tranche of loans," he said.

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