Congratulations to the staff at Nama.

Noone has reported yet on NAMA’s recent policy change. Some of the developers NAMA has given money too have outstanding Council Planning enforcements against them, in other words they are breaking the law while taking taxpayers money. Also NAMA was uninterested that those developers could use that money to build sub-standard accommodation like another priory hall. They claimed they were just another bank and had no interest in these issues. Thankfully common sense has prevailed and now all NAMA developers are required to correct any outstanding planning enforcements and ensure all future buildings are up to spec.

Does Nama not have to make around 80 billion to break even before they can pat themselves on the back and say they made a profit? Am I missing something here?

Some reported figures don’t add up:

- Profit before income tax: €11 million
- Profit for the year (after impairments): €247 million
Paul Daniels straining with all his might couldn’t even manage that!??? Someone point out the misprint for me.

- 90 per cent of the €17.5 billion property portfolio is in or close to Dublin, Cork, Limerick or Galway
Surely that should read “Of the 17.5b Repub of Ireland property portfolio…..90% is based….”

Smells of spin. The same smell I got from the phrase “long term economic value”. There has been no increase in economic value or any other value in any property portfolio since the end of 2007, almost five years have passed with either falling or, at best, stagnating prices. Now these guys are talking about PROFIT for NAMA? There is no such alchemy in finance. Sorry taxpayers.

I said they would make money in here a year a ago and most laughed hopefully they invest it back in Ireland and don’t let enda and his FG tossers give it away

Call me cynical but this sounds like utter horseshit and a spin. It’s like a person with bad debts of 5 million saying hey good news I earned 30k this year but so I’m doing great (as long as you accept I will never be able to pay off the 5 million). Bollocks. Please put some analysis into your reporting and not just reprinting the press you got.

How much of the 247M will be paid out as bonuses to the NAMA dream team management and is there a slice of the cake for the developers?

Anyone know what the cost of PR in NAMA’s accounts or is transparency deemed too commercially sensitive. The Irish taxpayer needs to be protected from having his own mind!

This is a load of spin, I recently had a meeting with a UK accountant. He told me that some of his Monaco based clients had been approached by NAMA selling off property. Sounds fair enough, but they are not exactly trying sell off at a profit, they are simply looking for quick sales to ‘non-irish investors’ equivalent to the price they took over the loan from the banks.

It was my understanding that NAMA would take over the loans (obviously at a reduced rate), but would only sell property when the market was right. These actions seem to contradict what they said they would do at the out set. Why is this not been reported and espcially why sell to anyone else but the Irish??

how can any sane person call this profit?I’ve just paid for lunch,if I puke it up into a bowl and sell it,am I in profit?

“Total bank assets: €74 billion” – How about selling those assets ASAP, put the money back into the publc purse and take us out of this hole we are in, which was supposed to be it’s remit.

Seems to me this is becoming a monster bank that Govt want to leave soldier on to keep the Party cronies in jobs for as long as possible…!!!

nama in profit is good for the tax payer.. If there was no nama the tax payer would have footed a much larger bill in the long run. Its fianna fails only good decision in the past 12 years. Hiphip

Ha ha ha spin rubbish every economist and anyone with half a brain knows this is lies lies and more lies. The two planks in picture are on a million each to tell lies!! Ha ha how they must be laughing

They lost 1 Billion last year.

They made a quarter of a Billion this year..

So before patting them on the back, remember that they’re still down a quarter of a BILLION!! The figures are just laughable at this stage!