Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Profits slip at Nama as loan sales generate less cash

Nama’s first-quarter profit dipped from €59 million (£52 million) in 2016 to €37 million (£33 million) this year as it generated less cash from loan sales.

The state’s bad bank recorded income of €1.1 billion (£0.99 billion) in the first three months of the year compared with €1.3 billion (£1.17 billion) in the same period last year.

Of the total income, €767 million (£688 million) related to the receipt of proceeds for two significant loan sales that were contracted in December 2016 but completed in 2017. Nama generated a further €0.2 billion (£0.18 billion) in cash in the period from the end of March to May 31, bringing cumulative cash generated since its inception to €39.4 billion (£35 billion).

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.