Nama’s annual report for 2014 shows that the Irish bad bank made a post-tax profit of €458m (£323.8m) for 2014, an increase of 115% on 2013’s €214m.
This is the fourth consecutive year of profits for NAMA.
Nama will be wound up when it has redeemed all the bonds it issued to debtors. In its 2014 report, the bank said it had redeemed a further €1.75bn, bringing the total up to €19.3bn.
The bank has now redeemed 64% of the €30.2bn senior debt it issued to acquire loans from participating institutions.
The bank’s total cash generated rose to €23.7bn, including €18.7bn from asset disposals, by the end of 2014.
Nama also announced that 4,000 homes had either been delivered or are under construction. The bank was aiming to deliver 4,500 by the end of 2016, it said.
In addition, planning permission had been secured for another 5,800 units, 2,400 of which were under construction.
