Dáil Éireann Debate, Thursday - 29 March 2018
121. Deputy Michael McGrath asked the Minister for Finance the book value and estimated market value of the loan assets held by NAMA by geographic area, for example, Ireland, the UK and so on; if a decision has been made to accelerate the disposal of NAMA's assets; and if he will make a statement on the matter. [14835/18]
Amharc ar fhreagraThe most recent details on NAMA's remaining portfolio are available in the Agency's quarterly section 55 accounts for Q3 of 2017 which are laid before the Houses of the Oireachtas and which are publically available on the NAMA website. The latest accounts for Q3 2017 outline that the carrying value of the Agency’s remaining loan portfolio, as at 30 September 2017, net of cumulative impairment, was €3.7 billion.
In relation to the geographic breakdown of NAMA’s remaining portfolio, I am advised that, as of 30 June 2017, 85% of the assets securing NAMA’s loan portfolio were located in Ireland, 10% were located in the UK, 4% was located in the rest of the world and the remaining 1% related to non-real estate assets. I am advised that this information will be updated by reference to 31 December 2017 when NAMA’s 2017 Annual Report is published in June 2018.
The Deputy will be aware that as Minister for Finance, I have no role in respect of NAMA's commercial operations. I am advised that NAMA expects to complete the majority of its work by end-2020 and that its residual loan portfolio will require intensive case management and asset management if the projected terminal surplus is to be realised. As such I do not envisage setting a shorter timeframe which could have the effect of reducing the projected terminal surplus, which is currently estimated at €3 billion, assuming market conditions remaining favourable.
