Second transfer of loans to NAMA

THE National Asset Management Agency (NAMA) has completed the second tranche of loan purchases from participating lenders; acquiring loans nominally valued at €5.2 billion for €2.7bn – a discount of 48%.

The second set of loan transfers from AIB, Bank of Ireland, Irish Nationwide Building Society and EBS brings to €20.5bn the total value of loans which have been bought by the Government’s “bad asset” division at a discounted consideration of €10.4bn.

Of the latest batch of transfers, NAMA paid AIB €1.4bn – a discount of 48.5% – for €2.73bn worth of loans. The Bank of Ireland discount was 37.8%, with €1.13bn being paid for loans with an original value of €1.82bn. The EBS discount amounted to 46.4% – €19.3m being paid for €35.9m worth of loans.