Bloomberg News

NAMA Sees 2011 Pre-Impairment Profit of at Least EU600 Million

October 26, 2011

Oct. 26 (Bloomberg) -- National Asset Management Agency Chief Executive Officer Brendan McDonagh said he expects the agency tasked with purging Irish lenders of risky commercial property loans to post an operating profit of at least 600 million euros this year before impairments.

McDonagh, speaking to a parliamentary committee in Dublin today, said he didn’t know the scale of impairments.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Finbarr Flynn at fflynn3@bloomberg.net


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