Nama generates €16.5bn

Nama has generated €16.5bn in cash and redeemed €7.5bn of senior bonds since it was established in 2009, according to its 2013 end-of-year statement.

The agency was set up by the previous minister for finance, Brian Lenihan, to take over roughly €74bn of development loans from the domestic banks in exchange for just under €32bn in senior bonds.

It generated €5.8bn in cash last year through €3.8bn in asset disposals and the balance through rental income. Nama has also received €1.4bn in interest and payments from the special liquidators of IBRC.