Ireland's NAMA: On Target For 25% Of Loan Repayments By 2013 Friday 09/10/2010 7:17 AM ET - Dow Jones News
Related Companies Symbol Last %Chg AIB 1.96 0.51% IRE 3.56 -2.20% As of 10:15 AM ET 9/10/10
DUBLIN (Dow Jones)--The chief executive of Ireland's National Asset Management Agency, Brendan McDonagh, said Friday that 25%, or approximately EUR20 billion, of the outstanding loans transferred to the agency by the nation's troubled banks will be paid off by 2013. "We are determined to meet that target," he said. McDonagh added, "Even while loans are being acquired and business plans prepared, we're making progress on the next stage of the project. We're in advanced discussions in respect of the disposal of approximately EUR500 million worth of properties."