First tranche of Anglo loans transferred to NAMA

The National Assets Management Agency (NAMA) has completed the transfer of the first batch of loans from Anglo Irish Bank.

In a statement NAMA said a discount of 55% was applied to the loans from Anglo.

To date loans with a value of €15.3bn have been taken over by NAMA from the five main lenders, AIB, Bank of Ireland, Anglo, Irish Nationwide and EBS.

In all €7.7bn was paid for the loans, representing an overall discount of 50%.

Meanwhile NAMA also annouced the appointment of a number of senior executives to its management board.

Graham Emmett has been appointed Head of Lending and Frank O’Connor has been named as Head of Treasury at the agency.

The appointments were welcomed by NAMA Chairman Frank Daly and by Chief Executive Brendan McDonagh.