Ireland's NAMA increases projected profit to 1.75 bln euros

October 1, 2015 11:00 AM

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DUBLIN Oct 1 Ireland's state-run "bad bank" has increased the profit it forecasts to make by the time it winds down to 1.75 billion euros ($1.95 billion) from 1 billion euros, The National Asset Management Agency (NAMA) said on Thursday.

NAMA was set up in 2009 following a financial crash and forked out 32 billion euros to purge local banks of risky loans worth 74 billion euros. It plans to pay back all its senior debt by 2018 having taken advantage of a surge in demand for Irish real estate over the past two years.

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