Edition:
United Kingdom

Paragon Banking Group PLC (PARA.L)

PARA.L on London Stock Exchange

485.40GBp
22 Jun 2018
Change (% chg)

7.00 (+1.46%)
Prev Close
478.40
Open
477.40
Day's High
486.60
Day's Low
477.40
Volume
457,760
Avg. Vol
617,021
52-wk High
558.50
52-wk Low
400.09

Latest Key Developments (Source: Significant Developments)

Paragon Banking Says Fiona Clutterbuck Appointed As Chairman
Friday, 11 May 2018 

May 11 (Reuters) - Paragon Banking Group PLC ::PARAGON - FIONA CLUTTERBUCK, SENIOR INDEPENDENT DIRECTOR, APPOINTED CHAIRMAN OF COMPANY AND REGULATED SUBSIDIARY PARAGON BANK, WITH EFFECT FROM 10 MAY 2018.PARAGON - BOB DENCH, WHO WAS APPOINTED CHAIRMAN OF CO-OP BANK PLC IN MARCH 2018, STEPPED DOWN AS CHAIRMAN AND CEASED TO BE DIRECTOR ON 10 MAY 2018.  Full Article

Paragon Confirms Early Stages Of Considering A Possible Acquisition of Titlestone
Tuesday, 8 May 2018 

May 8 (Reuters) - Paragon Banking Group PLC ::NOTES PRESS SPECULATION IN RELATION TO A POSSIBLE ACQUISITION OF TITLESTONE.CONFIRMS THAT IT IS IN EARLY STAGES OF CONSIDERING A POSSIBLE ACQUISITION OF TITLESTONE..NO CERTAINTY OF AN AGREEMENT BEING REACHED NOR AS TO TERMS OF SUCH AGREEMENT.  Full Article

Paragon Banking Says Q1 2018 Buy-To-Let Investments ‍342.9​ Mln Pounds
Tuesday, 23 Jan 2018 

Jan 23 (Reuters) - Paragon Banking Group Plc ::Q1 2018 BUY-TO-LET INVESTMENTS ‍342.9​ MILLION POUNDS VERSUS 185.2 MILLION POUNDS A YEAR-AGO.‍GROUP CONTINUES TO SEE GOOD PROGRESS IN EACH OF ITS BUSINESS LINES AND CONTINUES TO TRADE IN LINE WITH EXPECTATIONS​.‍UNAUDITED CET1 RATIO OF 15.6% AT 31 DECEMBER 2017​.‍"OUR DISCIPLINE OVER PRICING AND RISK IN A HIGHLY COMPETITIVE MARKET RESULTED IN NO NEW DEALS COMPLETING FOR IDEM CAPITAL DURING QUARTER"​.QTRLY ‍NEW LENDING UP 65% COMPARED TO Q1 2017 AT £469.8 MILLION​.  Full Article

Paragon Banking says FY pretax profit rose 1.1 pct
Thursday, 23 Nov 2017 

Nov 23 (Reuters) - Paragon Banking Group Plc ::FY PRETAX PROFIT ROSE 1.1 PERCENT TO 144.8 MILLION STG.FINAL DIVIDEND 11 PENCEPER SHARE.TOTAL DIVIDEND 15.7 PENCEPER SHARE.FY ‍UNDERLYING PROFITS ROSE BY 1.0% TO £145.2 MILLION DURING YEAR (2016: £143.8 MILLION)​.‍UK MORTGAGE MARKET IS CURRENTLY FINELY BALANCED AND THERE IS POTENTIAL FOR CONSIDERABLE VOLATILITY​.‍DATA WOULD INDICATE THAT MARKET HAS BEEN MORE ROBUST THAN SOME MEDIA REPORTS WOULD SUGGEST​.‍MORTGAGE TRANSACTIONS HAVE ALSO BEEN ON INCREASE, WITH ADVANCES INCREASING AT A SHARPER RATE THAN HOUSING TRANSACTIONS​.FY ‍UNDERLYING PROFIT ROSE BY 1.0% TO £145.2 MILLION (2016: £143.8 MILLION)​.‍STRENGTH OF FIRST-TIME BUYER SEGMENT, SUPPORTED BY GOVERNMENT'S HELP-TO-BUY SCHEME, IS CLEARLY BOLSTERING HOUSING TRANSACTIONS​.‍HOUSE PRICES ACROSS COUNTRY HAVE SEEN MODEST INCREASES IN PERIOD AND MARKET REMAINS STABLE​.FY ‍EPS UP 6.4% TO 43.1P (2015: 40.5P) AND UNDERLYING ROTE IMPROVED TO 13.4% (2016: 12.9%)​.‍BUY-TO-LET MARKET IN PARTICULAR HAS BEEN DISRUPTED THROUGH A SERIES OF GOVERNMENT AND REGULATORY INTERVENTIONS​.‍FY TOTAL LENDING INCREASED 28.8% TO £1,853.4 MILLION​.FY ‍BUY-TO-LET COMPLETIONS UP 20.6% TO £1,399.9 MILLION​.‍BOARD IS PROPOSING FINAL DIVIDEND OF 11.0 PENCE PER SHARE ​.  Full Article

Paragon Group of Companies confirms name change to Paragon Banking
Thursday, 21 Sep 2017 

Sept 21 (Reuters) - Paragon Group Of Companies Plc :CONFIRMS NAME CHANGE TOOK PLACE ON SEP 21, IS NOW PARAGON BANKING GROUP PLC ‍​.  Full Article

Lender Paragon to buy asset finance brokerage Premier Asset Finance
Monday, 3 Oct 2016 

Paragon Group Of Companies Plc : Further 12 million stg is payable over following five years, subject to performance conditions . Consideration is being paid from Paragon's existing cash resources . Acquisition of premier asset finance limited . Purchase of 10 pct of issued share capital in premier asset finance limited . Business will be acquired by Paragon Bank Plc's asset finance division, Paragon Bank Asset Finance Limited . Regulatory approval has been received for transaction .Initial consideration for purchase is 8.5 million stg, payable in cash.  Full Article

Paragon Group of Companies trading in line with expectations
Friday, 29 Jul 2016 

Paragon Group Of Companies Plc : In line with management's expectations . Pipeline at 30 June 2016 stood at £339.0 million compared to £350.6 million at start of quarter . Capital ratios remain strong, with its CET1 and leverage ratios standing at 16.2% and 6.7% respectively at end of June . There is potential for further disruption following referendum vote, although it is too early for scale of this to be determined . Q3 pretax profit rose 9 percent to 106.3 million stg . Trading update . Underlying operating profits (before fair value items and acquisition related costs) were £109.9 million, 12.1% higher . Group's loan portfolios have maintained their strong performance in credit, profit and in cash flow . Buy-To-Let lending for nine months to 30 June 2016 was £989.6 million, 21.2% higher . New lending levels slowed during Q3 to £166.0 million . Disruptions to market caused by combination of stamp duty changes and uncertainty in run up to referendum . Redemption rate reduced in Q3 and is now trending more in line with longer term expectations. .Expects to deliver profits for 2016 financial year in line with management's expectations.  Full Article

Paragon Group says to repurchase shares
Friday, 15 Jul 2016 

Paragon Group Of Companies Plc :Announces it has commenced, through UBS Limited, an irrevocable, non-discretionary programme to purchase shares on its own behalf.  Full Article

British lender Paragon flags subdued mortgage market despite higher first-half profit

Britain's Paragon Banking Group cautioned on Thursday that the domestic mortgage market remains subdued, even as a surge in lending volumes helped the lender post a 4.7 percent rise in profit for the first half of the year.