NAMA completes €500m programme of surplus transfers to Exchequer for 2022

NAMA completes €500m programme of surplus transfers to Exchequer for 2022

  • NAMA made a €250m payment today representing the second transfer from its surplus in 2022
  • To date, €3.9 billion has been paid by NAMA to the Exchequer, including €3.5 billion in cash surplus payments and over €400m corporation tax
  • Additional transfers totalling €1 billion are likely in coming years

Tuesday, 20th December 2022

The National Asset Management Agency (NAMA) has today transferred €250m from its surplus to the Exchequer. This is the second such payment from NAMA to the Exchequer this year, completing the 2022 programme of surplus transfers totalling €500m, and brings total surplus cash transfers to date to €3.5 billion.

During 2022, NAMA increased its lifetime surplus projection to €4.5 billion. Coupled with corporation tax paid of €400m, NAMA’s total dividend to the State from its operations will be of the order of €4.9 billion, of which €3.9 billion has now been paid. NAMA will make additional transfers totalling €1 billion from its surplus over the coming years. All surplus transfers are subject to market conditions.

Brendan McDonagh, NAMA Chief Executive, said:

“Today’s €250 million payment to the Exchequer, like the €3.25 billion already paid in cash, has been made possible by NAMA’s continued focus on maximising the value of its assets for the benefit of the State. Today’s transfer brings total cash delivered from NAMA to the State to €3.9 billion. This is a considerable achievement, and we will continue to endeavour to make additional significant contributions to the Exchequer in future years.”

Aidan Williams, NAMA Chairman, said:

“The €3.5 billion in surplus payments made by NAMA during the past 3 years has provided the State with a significant financial return which was not anticipated at NAMA’s inception. NAMA is committed to delivering further value for the taxpayer from its remaining assets.”