May 24, 2018 / 6:24 AM / 4 months ago

British lender Paragon's H1 profit up 4.7 pct

May 24 (Reuters) - British mortgage lender Paragon Banking Group said its first-half underlying profit rose 4.7 percent to 73.4 million pounds, driven by strong buy-to-let lending volumes.

New buy-to-let lending rose over 20 percent to 670.5 million pounds in the first six months ended March 31, from 556.2 million pounds a year earlier, the company said.

The company said pretax profit rose to 77.2 million pounds from 69.4 million pounds a year ago. (Reporting by Sangameswaran S in Bengaluru; Editing by Sunil Nair)

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