The National Asset Management Agency (Nama) has selected Certus and a consortium comprised of Pepper Asset Servicing and Serco as its preferred bidders to manage loan portfolios to be acquired from the special liquidators of Irish Bank Resolution Corporation (IBRC).

The portfolios to be acquired from the liquidators are separate from the Nama loans which were being managed by IBRC prior to the appointment of KPMG in February.

Nama has chosen Certus as its preferred bidder to provide services on the portfolio of commercial property loans, residential investment and development loans and business banking loans. This portfolio could potentially comprise loans with an aggregate nominal par debt value of €22 billion, depending on the outcome of the liquidators’ sales process.

The Pepper Asset Servicing and Serco consortium has been selected to provide services on the portfolio of personal loans, principally residential mortgage loans. This portfolio could potentially comprise loans with an aggregate nominal par debt value of €1.8 billion, depending on the extent to which loans are sold by the special liquidators.

The Government had originally said sales of the loans would be completed by the end of next month. It was announced in May however, that the liquidators had been given an extension in which to try and sell the loan book.

Nama said today it had agreed that the transition of services from the special liquidators to Capita will take place in early August. The agency said that by the time the transition to the new arrangements with Capita has been fully completed and the new loan portfolios have been acquired, that offers of employment will have been made to “a significant number” of ex-IBRC employees.

Certus said in a statement that it expects to create 300 new jobs over the next 12 months to manage the portfolio, bringing its total headcount to 1,400 people in Ireland and the UK.