RECEIVERS’ FEES for work on assets related to the National Asset Management Agency jumped fivefold last year, according to new figures.

According to Minister for Finance Michael Noonan, the costs to Nama through the appointment of receivers to Nama-related properties increased from €2 million in 2010 to €10.3 million last year.

Mr Noonan said Nama appointed 35 receivers in 2011 and this followed the appointment of 58 receivers by the agency in 2010. He said 19 receivers have been appointed by the agency to date this year.

In a written reply to a parliamentary question from Fianna Fáil finance spokesman Michael McGrath, Mr Noonan said: “I am advised by Nama that fees are not paid to receivers directly by banks or Nama; rather they are paid out of the proceeds of assets under receivership or the management thereof pending realisation.

“Costs incurred through receiver appointments by participating institutions are currently being collated by the institutions but are expected to be materially less.”

Mr Noonan said 235 receivers had been appointed to 176 separate debtors.

He said the number of receivers appointed by participating institutions – including AIB, Bank of Ireland and the Irish Bank Resolution Corporation – was 79 in 2010, 38 in 2011 and six in 2012.

“Nama has selected 30 separate firms in respect of its 112 appointments since 2010. The participating institutions have engaged 29 separate firms in respect of their 123 appointments,” said Mr Noonan.

In another parliamentary reply related to Nama, he said income arising from the rental by State bodies of about 82 Nama debtor and receiver properties was about €30 million annually.