NAMA given thumbs up in survey

THE majority of leading finance directors in Irish companies believe NAMA will have a positive effect on credit flow and the profile of the banking sector.

The latest edition of the quarterly Deloitte CFO (chief financial officer)Survey, covering the first three months of 2010, shows that 60% of chief financial officers feel the Government’s bad bank project will benefit credit availability, while just over half (52%) think it will play a major part in restoring credibility to the banking sector.

However, the survey also reveals that most officers view Irish-owned banks and equities as their least preferred method of external funding, with foreign- owned banks being “better alternatives”.