Thursday, July 7, 2022

Irish ‘bad bank’ hopes to top projected four billion euro surplus

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DUBLIN (Reuters) – Ireland’s state-run “bad bank” hopes to deliver a total surplus to the government above its projected 4 billion euros, chief executive Brendan McDonagh said after paying over the first 2 billion euros on Wednesday.

McDonagh said the National Asset Management Agency (NAMA) was beginning to see interest again in the properties for sale in its portfolio after the coronavirus disruption and that it had not seen any big adjustment in office pricing to date.

NAMA remains confident of at least delivering the full 4 billion euro surplus despite the disruption, he added, but hoped to exceed that “if things go right”.

(Reporting by Padraic Halpin; Editing by Gareth Jones)

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