NAMA sets 25% 'performing' loans target

[CaveCanem]

So, 25% is the new ambitious…

The chief executive of the National Asset Management Agency Brendan McDonagh says it has set a target for 25% of its loans to be performing. A performing loan is one which is being re-paid in some form.

In its second quarter report earlier this month, NAMA said 29% of its loans were performing at the end of June. Mr McDonagh told the Public Accounts Committee that the 25% target was ‘realistic’.

He estimated that the final discount on loans taken from the banks would 58%, meaning it would pay around €31 billion for loans originally valued at €73 billion. Mr McDonagh told the PAC that, contrary to some commentary, the agency was neither overpaying nor underpaying for the assets acquired.
rte.ie/news/2010/1118/nama-business.html

… not quite

[xman]

I’ve been watching the PAC for the last couple of hours and overall I am impressed by the performance of Frank Daly and Brendan McDonagh.

Wriggling a bit on the €200k a man average, but given the sums they are dealing with, I dont have a problem with that level of remuneration.