Ireland’s National Asset Management Agency posted losses of €678 million ($1 billion) in the fourth quarter—compared with €35.5 million ($52.47 million) in the preceding three-month period as the bad bank took a €1 billion ($1.48 billion) charge to cover potential losses on the loans it acquired. NAMA, which has acquired loans at a nearly 60% discount, reports that only 23% of its portfolio was performing.
