NAMA releases its quarterly accounts for Q2 of 2016

The National Asset Management Agency (NAMA) has today released its quarterly accounts for Q2 of 2016 which include its financial results for the first half of 2016 (H1 2016).

 

During H1 2016, NAMA recorded a profit after tax of €647m (the corresponding figure for the first half of 2015 was €473m).

 

The H1 2016 results include the results of the semi-annual impairment review conducted at end-June 2016 and include an impairment release of €247m (the impairment release for the whole of 2015 was €86m). The results do not take into account any impact on asset valuations of the result of the Brexit referendum which was held at the end of June – this will be assessed as part of the end-2016 impairment review.

 

During H1 2016, NAMA redeemed €3.5 billion in senior debt. Together with another €1 billion redeemed in Q3 2016 (€4.5 billion in total), this brings to €26.6 billion the cumulative amount redeemed to date, 88% of NAMA’s senior bonds in issue.

 

NAMA’s Annual Statement for 2017 has also been published today. Both documents can be accessed here