According to this story, Nama have made a profit in 2011, €247 million.
I'm just wondering is this money that the government would have factored in to it's annual income?
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I would be highly skeptical of NAMAs valuations. They started buying assets 2 1/2 years ago and since then property valuations are down 30%. By DerKaiser's figures Nama has discounted by less than 10%. I simply do. It believe them
Or maybe no state money should have gone in at all, it certainly hasn't provided anything that looks remotely like a recovery and in my opinion never will.
Just trying to get an overall perspective on how nama actually performed given that the media are reporting that overall they have a surplus of 4.5billion euros from all the assets that they managed.From what I've seen NAMA have paid out about €30bn, made operating profits of €1.6bn (mainly from sales) and written remaining assets down by €2.7bn.
It's not bad I guess, given how far the market has fallen since NAMA began.
Effectively the banks have suffered €40bn+ of losses on the NAMA portfolio, with NAMA losing about €1bn to date.
No they didn't.They effectively sold off most of the assets for rock bottom prices very early in the cycle and didn't manage the assets that well in the end.