National Asset Management Agency (NAMA), Ireland

The National Asset Management Agency (NAMA) is a state agency established in response to the financial crisis and property market collapse. Its primary role was to acquire and manage distressed property development loans from Irish banks, stabilizing the financial system and restoring credit flow. NAMA operates under the National Treasury Management Agency (NTMA) and is accountable to the Department of Finance, Ireland. It functions as a “bad bank,” recovering value from impaired assets. Over time, NAMA has shifted focus to delivering surplus returns to the state and supporting social and economic development. It is currently undergoing a phased wind-down, scheduled to conclude by end-2025.