Oireachtas Joint and Select Committees

Thursday, 1 October 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014 (Resumed)

10:00 am

Mr. Brendan McDonagh:

Absolutely. We have approximately €14.4 billion worth of assets remaining, of which €7.3 billion, or 50%, is in Dublin. We have €3 billion in the rest of Ireland but most of it is in Dublin, Cork, Limerick and Galway. We have approximately €800 million in the rest of the world but most of that is Germany, France and Portugal. We have approximately €800 million left outside of London and €2.2 billion in London. We are gradually selling down the portfolio but we are doing it in a structured way. Effectively, we will be left with assets primarily in Dublin and London, which are two very good markets.

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