Wednesday, 8 May 2013

Questions (70)

Pearse Doherty


70. Deputy Pearse Doherty asked the Minister for Finance further to the publication of the 2012 unaudited accounts for the National Asset Management Agency, if he will confirm the percentage of non-performing loans by reference to nominal values and the original loan terms. [21643/13]

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Written answers (Question to Finance)

I would direct the Deputy to page 10 of the NAMA Section 55 Report for the fourth quarter of 2012 which states that, as at 31 December 2012, 82% of the loans acquired by NAMA were classified as non-performing. This classification was primarily by reference to the original legacy loan agreements that pre-dated NAMA loan acquisition. I would also direct the Deputy to page 9 of the NAMA Section 55 Report which shows that, when one also factors in income captured by NAMA in respect of partially and non-performing loans (including enforced loans), the weighted-average performance is measured at 33% for the same period.