THE NATIONAL Asset Management Agency had raised €9.5 billion in cash from asset disposals and loan repayments, up from €8 billion in June, the State agency told an Oireachtas committee.

Total sales approved by Nama stand at €10.5 billion, including €6.2 billion completed sales and €2 billion in the pipeline. The agency has approved loans for working and development capital of €1.6 billion, including €800 million in the State.

Nama has taken €514 million as fresh security on loans and made two formal complaints to the Garda Bureau of Fraud Investigation over the failure by debtors to disclose assets fully to the agency.

Mr Daly said that it was working with two-thirds of its 800 debtors which was “a much brighter prospect” than expected two years ago.

Overheads and receiver costs on €61 billion of €74 billion in face-value loans acquired by Nama amounted to €215 million, he said.

Annual salaries totalled €15.5 million to 168 debtors. Just over 100 were on less than €99,000, 38 were being paid €100,000- €149,000, 25 between €150,000- €199,000 and three on €200,000. “I don’t think that it could be said that we are funding extraordinary lifestyles,” said Mr Daly.

Mr McDonagh said 19 per cent of Nama’s loans were fully performing and 16 per cent in part.