The Minister for Finance, Mr. Brian Lenihan T.D. today welcomed the publication of the NAMA Annual Statement for 2011 and the Quarterly Report to the end of June 2010. The Quarterly Report to end of June 2010 shows that the NAMA Group recorded a profit of just over €6 million during the second quarter. The Minister noted the significant progress that NAMA has made to date. He said:
“I welcome the €6 million profit earned by NAMA in the second quarter of 2010. I am pleased to say that NAMA is functioning well, with transparency and sound governance. The reports published today illustrate how far the Agency has come in a relatively short time.”
NAMA will manage the loans of the largest 150 debtors directly and will delegate the management of another 700 debtors to the participating institutions, within tight NAMA oversight conditions.
The NAMA report and Statement will be available at http://www.nama.ie/
The Minister also welcomed the publication of the report of the Comptroller and Auditor General (C&AG) on the acquisition of bank assets by the National Asset Management Agency. In relation to the Special Report of the C&AG the Minister said:
“I have stressed the importance of transparency in the operation of NAMA and today’s report from the Comptroller & Auditor General is a key element of that transparency.”
C & AG report can be accessed at http://www.audgen.gov.ie/viewdoc.asp?DocID=1271&CatID=5&StartDate=1+January+2010
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