Nama defiant over ‘lost €18bn’ claim

Nama has defended its performance in light of a new report suggesting it has missed out on generating €18bn for the State by selling assets too quickly.

Coming to light over the weekend, a report – commissioned by David Daly, one of the first major property developers to exit Nama – claims that the State’s so-called ‘bad bank’/’toxic loan agency’ failed to realise at least €18bn in money for the taxpayer by not holding a number of property loan assets on its books for long enough.

The findings of the report came from research undertaken by economist Jim Power and Lisney estate agents.