Nama to hand over residual €22m asset portfolio and €50m in cash on wind up this month

Nama will “most likely” hand over its remaining activities to a resolution unit within the National Treasury Management Agency (NTMA) at the end of this month, its chief executive Brendan McDonagh will tell the Public Accounts Committee on Thursday.

The agency has been in wind-down mode for the past year, having been established by the State 16 years ago to take soured property loans off the books of the domestic banks in the wake of the financial crash.

McDonagh will tell the committee that Nama has a residual asset portfolio worth €22 million left to be resolved, from a starting point of €31.8 billion of property loans in 2010.

It also has €50 million in cash that it will hand over to the NTMA. Property assets with a value of €425 million were transferred to the Land Development Agency (LDA) last year.

The LDA transfers included its social housing vehicle with 1,366 homes and two prime residential development sites, one in Dublin and one in Kildare, that the LDA believes can deliver at least 7,000 new homes once planning is obtained.

“Unfinished activity at Nama’s dissolution is likely to relate to ongoing litigation of eight cases, the sale of one remaining foreign based asset, the return of local authority bonds and claims in bankruptcies and liquidations.

“The timing of the resolution of these activities is outside of the hands of Nama,” McDonagh says in his statement to the committee.

McDonagh will remind the committee that Nama made a profit of €78 million in 2025 and generated €180 million in cash, bringing total cash generation since inception to €48.5 billion.

Some €450 million of surplus cash was transferred to the exchequer in December 2025, bringing its lifetime contribution to €5.6 billion.

“We are ready for Nama to be dissolved but we continue to deal with any remaining assets and litigation until dissolution date, which is likely to be in the coming weeks once legislation is enacted,” McDonagh says.

At that point, Nama will cease operations completely and remaining activities will transfer to the NTMA.

“The timing of resolution of these residual activities post dissolution is outside of the hands of Nama/NTMA. The existence of such residual unresolved activity after a workout vehicle has concluded operations was anticipated and is typical of the experience of vehicles of this nature globally”, he says.

In a recent update on its activities, Nama said eight staff were working through the final elements of its activities before the handover to the NTMA on wind up.