Nama profits hit €102m for first half

Nama made a profit of €102m for the first six months of the year, and has guided that it will complete its work by the end of 2017 or mid-2018, according to its annual statement.

Nama generated €5.4bn in cash over the first half of the year, compared with €2bn over the same period last year, as the agency accelerated its divestment programme to take advantage of improved market conditions. It has generated €21.9bn since its inception.

Nama was set up in 2009 to take over property loans sitting on the balance sheets of the domestic banks.