Nama generated €1bn in first three months of year

Nama has said it continues to generate “significant” cash through asset and loan disposals, despite its total income for the first quarter of this year declining slightly on a year-on-year basis.

In its latest quarterly accounts, published yesterday, the agency said it generated €1.1bn in the first three months of the year.

That amount — marginally down on the €1.3bn generated in the first quarter of 2016 — included €767m received for two significant loan sales that were actually contracted in December of last year but not completed until the first quarter of this year.