NAMA 'hopeful' it can make €1bn profit
The chairman of NAMA said today that the agency is set to turn a profit for the taxpayer by the time it is wound up.
Frank Daly has told the Oireachtas Banking Inquiry that the agency will make profit of around €1bn.
That is based on current trends in the property market, and the amount the agency can make by selling off its remaining assets.
Mr Daly has told the inquiry that getting the highest possible payout is not always the best thing for the State - but NAMA is doing well at returning the money the taxpayer put in.
"We're already two years ahead of target in terms of repaying our senior debt, we're committed by paying 80% by the end of next year," he said.
"Should conditions in the economy and in the property market continue to remain favourable, we're hopeful - based on our current projections that NAMA may realise a surplus of up to €1bn for the taxpayer by the time we complete our work."
