Nama formally dissolved by finance minister 

On Friday, the agency concluded its operations after 16 years, having generated a return for the Government of €5.6bn and facilitating the delivery of more than 44,500 homes

Nama chief executive Brendan McDonagh and Nama chairman Aidan Williams.

The National Asset Management Agency (Nama) — which was established in the wake of the financial crisis to deal with non-performing property loans held by the banks — has been formally dissolved by finance minister Simon Harris.

On Friday, the agency concluded its operations after 16 years, having generated a return for the Government of €5.6bn through cash transfers as well as corporation tax.

During its last year of operations in 2025, Nama reported an after-tax profit of €78m. In total, Nama generated €180m in cash last year, bringing its total cash generation since inception to €48.5bn.

Established in 2009, Nama acquired loans with an original value of €74bn from participating financial institutions, valued at €26.2bn, for a consideration of €31.8bn. 

Nama repaid €30.2bn in Government-guaranteed senior debt in 2017, three years ahead of schedule and fully repaid its €1.6bn subordinated debt by 2020, leaving it debt free.

On top of the transfer of cash, Nama also transferred assets to the Land Development Agency, including 1,366 social homes and land with the potential to deliver about 7,000 new homes. It also facilitated the delivery of more than 44,500 homes, with 14,660 directly funded and delivered, as well as delivering 2,957 social housing homes.

On top of that, it supported the regeneration of the Dublin Docklands Strategic Development Zone, helping deliver more than 4.2 million square feet of commercial space and more than 2,000 homes.

On the dissolution of the agency, Mr Harris said Nama had “successfully fulfilled this mandate”, having “significant return for the State while also delivering lasting social and economic benefits”.

“Through its support for housing delivery, the regeneration of Dublin Docklands and the transfer of social housing and strategic residential development sites to the Land Development Agency, Nama has left a legacy that will continue to benefit communities for many years to come,” Mr Harris added.

Any residual activity remaining in Nama will transfer to the National Treasury Management Agency from August 1, for management to completion.