Nama will break even by 2020, when the agency is scheduled to wind down, according to chief executive Brendan McDonagh.
However, Nama’s base forecast had anticipated a €1bn (£800m) profit at the time the agency ceases operations.
McDonagh was speaking before the Dáil Public Accounts Committee. He rejected criticism that Nama had overpaid for the €32bn of real estate loans acquired from Irish banks in 2009.
Property prices have fallen by 20% since Nama took on the loans, resulting in a €2.3bn impairment charge for the agency.
McDonagh said that his latest forecasts were based on 2% growth in the Irish economy between now and 2020.
sophia.furber@estatesgazette.com
