NAMA Portfolio

Dáil Éireann Debate, Tuesday - 25 February 2014

Tuesday, 25 February 2014

Ceisteanna (188, 189)

Pearse Doherty

Ceist:

188. Deputy Pearse Doherty asked the Minister for Finance if he will confirm that the National Asset Management Agency’s primary objective is to maximise returns from the assets it has acquired. [9017/14]

Pearse Doherty

Ceist:

189. Deputy Pearse Doherty asked the Minister for Finance if the reported disposal of the National Asset Management Agency’s entire portfolio of assets linked to the borrowers in the North of Ireland is motivated by political or economic considerations. [9018/14]

Freagraí scríofa

Minister for Finance

I propose to take Questions Nos. 188 and 189 together.

I am advised that NAMA s commercial decisions are guided entirely by Section 10 of the NAMA Act which places a statutory obligation on NAMA to obtain the best achievable return for the State from the management of its acquired loan portfolio. NAMA has an independent mandate and decisions in relation to the management and disposal of property assets and loan portfolios are therefore a matter only for the NAMA Board.