Ireland’s bad bank forced to slash profit forecast

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Ireland's bad bank on Tuesday scaled down its lifetime profit forecasts significantly, blaming overly positive information from banks in the first instance.

The National Asset Management Agency (Nama), which officially launched in March, had initially forecast a €4.8 billion ($6.1 billion) profit over its lifespan. Its central forecast now if for a profit of €1 billion over the duration of its existence. Even in its best possible forecast, which sees the agency recovering the full long-term valu

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