Speaking in the Dail a short while ago, the Minister for Finance Michael Noonan announced NAMA’s preliminary results for 2011 as follows
Operating profit €1.01bn
Impairment charge €0.81bn
Net profit €200m
Remember these are the results from the 2011 management accounts and we won’t get NAMA’s annual report until the summer. Last year NAMA’s impairment charge in the management accounts was €1.0bn but rose to €1.485bn in the annual report.