Discounted loans ‘was Nama’s best option’

Nama approved the transaction in late 2020 that included loans on residential units, unfinished residential units, and on development lands. Picture: Sasko Lazarov/RollingNews.ie

The National Asset Management Agency (Nama) has said it took the best remaining financial decision to write down loan debts and sell residential property and a development land after an official report highlighted the unusual circumstances of intimidation ahead of the transaction.

Nama sold loans related to the assets which had a face value of €10.5m at a huge discount of over 97%, according to a report into the transaction by the Comptroller and Auditor General.