NAMA completes transfer of €350m to Exchequer

NAMA completes transfer of €350m to Exchequer

  • €350m payment today brings total surplus transfers to Exchequer to €3.85bn
  • Including €400m corporation tax paid, NAMA has paid a total of €4.25bn to the Irish State
  • Additional transfers totalling €650m will be made in the coming years

Thursday, 21st December 2023

The National Asset Management Agency (NAMA) has today completed a €350 million cash transfer to the Exchequer. Today’s transfer brings the total cash paid to the Exchequer from NAMA’s surplus to €3.85 billion. In addition, NAMA has made corporation tax payments exceeding €400 million to date.

NAMA’s lifetime surplus projection is currently €4.5 billion. Including tax paid, NAMA’s lifetime dividend to the State will be of the order of €4.9 billion. NAMA expects to make additional transfers to the State to the value of €650 million by the time the Agency completes its work in 2025. All future surplus transfers are subject to prevailing market conditions.

Brendan McDonagh, NAMA Chief Executive, said:

“Today’s €350 million payment to the Exchequer has been made possible by NAMA’s continuous focus on maximising the value of its assets for the benefit of the State. We have now transferred over €4.25 billion comprising €3.85 billion in cash, plus over €400 million in tax, and will make further payments to the Exchequer by the time we complete our work in 2025.”