NAMA has this afternoon published its management accounts and quarterly report for the three months ending 31st December 2012. So we finally have the unaudited picture for 2012. There will be detailed analysis tomorrow but here are the headlines for 2012. The report is here and the accounts are here.
(1)Profit after impairment and tax of €230m
(2) Impairment in 2012 of €518m
(3) Tax charge in 2012 of €69m
(3) Admin costs of €119m but remember this excludes legal costs which NAMA thinks it will recover from developers. It also excludes the cost of receivers, liquidators and administrators whose costs are charged to the developers’ companies.
(4) 18% of loans are performing, similar to Q3,2012
(5) 223 loans with a nominal value of €867m were enforced in Q4,2012 with receivers in each case.
(6) NAMA initiated six legal cases in Q4,2012 as follows
(7) NAMA sold €2.8bn of assets in 2012
There will be a detailed analysis on here tomorrow, remember these are unaudited accounts and in previous years, the final audited impairment charge has been considerably higher than the figure in the management accounts.