The National Asset Management Agency has reported a loss of €49m for the first quarter of the year. NAMA said this compares to profits of €41m the same time last year and reflected adjustments in the fair value of NAMA debtor loans to take account of market uncertainty and a lack of visibility on the full extent of market disruption due to Covid-19.
In its latest quarterly report, NAMA said it generated total cash of €226m in the first three months of the year. This brought total cash generated from NAMA's inception to the end of March to €45.5 billion.
The report details NAMA's key activities so far this year, including the transfer of the first €2 billion of NAMA's projected €4 billion lifetime surplus.