Oireachtas Joint and Select Committees

Thursday, 20 September 2018

Public Accounts Committee

National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report

9:00 am

Mr. Brendan McDonagh:

Yes, exactly. Some €74 billion was loaned by the banks. We took over those loans. There was over-lending. We bought the loans for what they were and we had to sell some of them. As the Deputy outlined, some are disputed. The values achieved were the best available at the time, when people invested capital but, as I said, on the other side there are examples of assets regarding which we have achieved a huge amount. Nobody talks about them, however.

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