Speaking in the Dáil this afternoon, Taoiseach Brian Cowen said the agency would make a profit “somewhere in the order of €1 billion”.
He said there had been some misunderstanding of the Nama plan in advance of its publication. “It is not true to say that Nama expects to make a loss,” he added.
Nama, which announced a loss of €714 million for last year, said another €3.5 billion of loans may be acquired over the coming months.
Ah well. No harm done, eh?