The Chief Executive of Bank of Ireland is insisting they’ve guided the market appropriately in relation to their transfers to NAMA.

The bank moved €1.9 billion worth of loans to the National Asset Management Agency (NAMA) yesterday, with the state paying €1.2 billion for them.

That’s a 35% discount, even though the expectation last September was of one  ‘significantly less’ than 30%.

Bank of Ireland today reported a pre-tax loss of €1.8 billion for the nine months to the end of 2009 – while their share price has jumped 21% since the Irish Stock Exchange opened at 8am.

The bank’s chief executive Richie Boucher told Breakfast here on Newstalk he’s confident of how their NAMA figures have been processed.

“We believe that our portfolios reflect the focus we had in particular of insuring that we had controls on the number of single-customer exposures that we had” he said.

“I can only speak for Bank of Ireland’s own portfolios”.

“Our portfolios have been through a very, very rigorous process within NAMA” he added.