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United Kingdom

Paragon Banking Group PLC (PARA.L)

PARA.L on London Stock Exchange

428.40GBp
25 Mar 2019
Change (% chg)

-4.20 (-0.97%)
Prev Close
432.60
Open
428.80
Day's High
430.40
Day's Low
426.20
Volume
235,108
Avg. Vol
385,382
52-wk High
558.50
52-wk Low
379.20

Latest Key Developments (Source: Significant Developments)

Paragon Banking Says IFRS 9 Transition To Increase Impairment Provision Of About 27 Mln stg
Wednesday, 20 Mar 2019 

March 20 (Reuters) - Paragon Banking Group PLC ::PARAGON BANKING GROUP PLC - TRANSITION TO IFRS 9 WILL RESULT IN AN INCREASE IN IMPAIRMENT PROVISION OF APPROXIMATELY £27 MILLION AT 1 OCTOBER 2018.  Full Article

PIRC Recommends Vote Against Share Repurchase Authorisation For Paragon Banking
Tuesday, 12 Feb 2019 

Feb 12 (Reuters) - PIRC::PROXY ADVISORY FIRM PIRC RECOMMENDS TO VOTE AGAINST AUTHORISATION OF SHARE REPURCHASE FOR PARAGON BANKING GROUP PLC.PROXY ADVISORY FIRM PIRC RECOMMENDS TO VOTE AGAINST ISSUING SHARES FOR CASH FOR FINANCING ACQUISITION OR OTHER CAPITAL INVESTMENT FOR PARAGON BANKING.PIRC SAYS RECOMMENDS SHAREHOLDERS TO VOTE AGAINST PROPOSAL TO AMEND EXISTING LONG TERM INCENTIVE PLAN FOR TIGER BRANDS.PROXY ADVISORY FIRM PIRC RECOMMENDS SHAREHOLDERS VOTE AGAINST TIGER BRANDS REMUNERATION REPORT AT AGM.PIRC SAYS RECOMMENDS SHARESHOLDERS TO VOTE AGAINST PROPOSAL TO APPROVE FINANCIAL ASSISTANCE FOR TIGER BRANDS.PROXY ADVISORY FIRM PIRC RECOMMENDS SHAREHOLDERS ABSTAIN FROM VOTING ON APPROVAL OF REMUNERATION REPORT FOR PARAGON BANKING GROUP.  Full Article

Paragon Banking CET1 Ratio Rises Slightly To 13.9 Pct Dec End
Monday, 28 Jan 2019 

Jan 28 (Reuters) - Paragon Banking Group PLC ::PARAGON BANKING GRP - TRADING UPDATE.PARAGON BANKING GROUP PLC - OUR RETAIL DEPOSIT BASE CONTINUES TO GROW, CREATING FURTHER EFFICIENCIES IN OUR FUNDING STRUCTURE.PARAGON BANKING GROUP PLC - REMAIN CONFIDENT IN OUTLOOK.PARAGON - REMAIN CONFIDENT IN OUTLOOK, BUT WILL MAINTAIN OUR CAPITAL, LIQUIDITY AND BROADER RISK DISCIPLINES.PARAGON BANKING GROUP PLC - BUY-TO-LET PIPELINE REMAINS STRONG, WITH FOCUS ON PROFESSIONAL LANDLORDS.PARAGON BANKING GROUP PLC - FROM 1 OCTOBER 2018 TO 31 DECEMBER 2018, NEW BUSINESS FLOWS OF £660 MILLION, UP 40.6%.PARAGON BANKING GROUP PLC - GUIDANCE FOR 2019 PERFORMANCE REMAINS UNCHANGED.PARAGON BANKING GROUP PLC - DEPOSIT BALANCES NOW TOTAL £5.6 BILLION.PARAGON BANKING GROUP PLC - GROUP CONTINUES TO SEE GOOD PROGRESS IN EACH OF ITS BUSINESS LINES AND REITERATES GUIDANCE GIVEN AT 2018.PARAGON BANKING GROUP PLC - DECEMBER BUY-TO-LET PIPELINE STOOD AT £729.1 MILLION, WHICH IS 17.8% HIGHER THAN AT DECEMBER 2017.PARAGON BANKING GROUP PLC - QTRLY TOTAL MORTGAGES 366.5 MILLION STG VERSUS 448.6 MILLION STG.PARAGON BANKING GROUP PLC - DEBT PURCHASE MARKET REMAINED HIGHLY COMPETITIVE IN QUARTER.PARAGON BANKING GROUP PLC - WHILE WE CONTINUE TO CONSIDER NEW DEAL FLOW, IDEM CAPITAL MADE NO NEW INVESTMENTS IN QUARTER.PARAGON BANKING GROUP PLC - PARAGON'S PORTFOLIO METRICS REMAIN STRONG, WITH BUY-TO-LET ARREARS LEVELS OF 9 BASIS POINTS (DECEMBER 2017: 9 BASIS POINTS).  Full Article

Paragon Banking Group FY Pretax Profit Rose 25.3 Percent To 181.5 Million Stg
Wednesday, 21 Nov 2018 

Nov 21 (Reuters) - Paragon Banking Group PLC ::FY PRETAX PROFIT ROSE 25.3 PERCENT TO 181.5 MILLION STG.FY UNDERLYING PROFIT BEFORE TAX INCREASED BY 7.8% TO £156.5 MILLION.FY NET INTEREST MARGIN INCREASED BY 8 BASIS POINTS TO 2.21% (2017: 2.13%).DIVIDEND PER SHARE UP BY 23.6% TO 19.4P (2017: 15.7P), IN LINE WITH POLICY ANNOUNCED IN NOVEMBER 2017.FY BUY-TO-LET LENDING PIPELINE UP 28.9% TO £778.9 MILLION (2017: £604.2 MILLION).PARAGON - ENTERS 2019 WITH A STRONG NEW BUSINESS PIPELINE, IS WELL POSITIONED IN ITS CHOSEN MARKETS AND EQUIPPED WITH HIGH LEVELS OF LIQUIDITY.PARAGON- DESPITE POTENTIAL FOR ECONOMIC UNCERTAINTIES ARISING FROM BREXIT AND ELSEWHERE, GROUP REMAINS CONFIDENT OF ITS FUTURE PROSPECTS.SEEKS TO MITIGATE ITS EXPOSURE TO BREXIT THROUGH A ROBUST APPROACH TO PROPERTY VALUATION.  Full Article

Paragon Banking Sees 25 Pct Higher Buy-To-Let Pipeline At Sept End
Tuesday, 18 Sep 2018 

Sept 18 (Reuters) - Paragon Banking Group PLC ::PARAGON BANKING GRP - TRADING UPDATE.PARAGON BANKING GROUP PLC - REITERATES GUIDANCE GIVEN AT HALF YEAR IN RESPECT OF VOLUMES, MARGINS AND COSTS.PARAGON BANKING GROUP PLC - BUSINESS CONTINUES TO OPERATE IN LINE WITH BOARD'S EXPECTATIONS.PARAGON BANKING GROUP PLC - BUSINESS CONTINUES TO OPERATE IN LINE WITH BOARD'S EXPECTATIONS.PARAGON BANKING GROUP PLC - BUSINESS CONTINUES TO OPERATE IN LINE WITH BOARD'S EXPECTATIONS.PARAGON BANKING GROUP PLC - HAS MADE FURTHER PROGRESS ON GROWING ITS RETAIL DEPOSIT BASE, WHICH NOW EXCEEDS £5 BILLION..PARAGON BANKING GROUP PLC - IDEM CAPITAL, PARAGON'S PORTFOLIO PURCHASE DIVISION HAS DISPOSED OF A PORTFOLIO OF WHOLESALE FUNDED ASSETS FOR A PREMIUM.PARAGON BANKING - BUY-TO-LET PIPELINE AT 30 SEPTEMBER 2018 IS EXPECTED TO BE OVER 25% ABOVE LEVEL REPORTED AT 30 SEPTEMBER 2017.PARAGON BANKING GROUP PLC - BULK OF REMAINING IDEM ASSETS WILL BE TRANSFERRED TO PARAGON BANK.PARAGON BANKING GROUP PLC - UNDERLYING PROFITS FOR 2018 REMAIN IN LINE WITH BOARD'S EXPECTATIONS.PARAGON BANKING GROUP PLC - IDEM DISPOSAL WILL HAVE A FAVOURABLE ONE-OFF IMPACT OF CIRCA 7 PENCE PER SHARE ON REPORTED EARNINGS FOR 2018.  Full Article

J O Hambro Capital Management Discloses 5.02 Pct Stake In Paragon Banking
Tuesday, 28 Aug 2018 

Aug 28 (Reuters) - Paragon Banking Group PLC ::J O HAMBRO CAPITAL MANAGEMENT LIMITED DISCLOSES 5.02 PERCENT STAKE IN PARAGON BANKING GROUP PLC - FILING.  Full Article

Paragon Banking Group Says Q3 Net Loan Growth Totalled 171 Mln Pounds
Monday, 23 Jul 2018 

July 23 (Reuters) - Paragon Banking Group PLC ::Q3 NET LOAN GROWTH TOTALLED £171 MILLION TAKING YEAR TO DATE GROWTH TO £393 MILLION (2017: £335 MILLION).QTRLY MORTGAGE LENDING TOTALLED £409.4 MILLION, TAKING YEAR TO DATE LENDING TO £1,130.4 MILLION.QUARTERLY COMMERCIAL LENDING TOTALLED £179.7 MILLION, TAKING YEAR TO DATE LENDING TO £449.0 MILLION (2017: £285.0 MILLION).BUY-TO-LET PIPELINE ROSE BY £71.2 MILLION ACROSS QUARTER, CLOSING AT £858.8 MILLION.TITLESTONE TRANSACTION IS EXPECTED TO ENHANCE POST TAX PROFITS BY A HIGH SINGLE-DIGIT PERCENTAGE IN 2019.TITLESTONE ACQUISITION IS EXPECTED TO HAVE A MODESTLY POSITIVE IMPACT ON GROUP'S NET INTEREST MARGIN IN.DEMAND FROM PROFESSIONAL LANDLORDS AND ADDITION OF TITLESTONE IS EXPECTED TO ACCELERATE GROWTH OF OUR COMMERCIAL LENDING ARM- CEO.REMAIN ON TRACK TO ACHIEVE OUR 2018 TARGETS AND BUSINESS IS WELL-PLACED TO MAKE FURTHER STRONG PROGRESS IN 2019- CEO.  Full Article

Paragon buys Titlestone Property Finance, loan book from Oaktree funds
Tuesday, 3 Jul 2018 

July 3 (Reuters) - Paragon Banking Group PLC ::ACQUIRED ENTIRE SHARE CAPITAL (" TRANSACTION"/" ACQUISITION") OF TITLESTONE PROPERTY FINANCE LIMITED ("TITLESTONE") FOR CIRCA £48 MILLION.IS ACQUIRING A PORTFOLIO OF DEVELOPMENT FINANCE LOANS FOR CIRCA £226 MILLION FROM A SERIES OF SPECIAL PURPOSE VEHICLE COMPANIES ("SPVS").TITLESTONE, SPVS OWNED BY FUNDS ULTIMATELY CONTROLLED BY OAKTREE CAPITAL MANAGEMENT ."CONSIDERS DEVELOPMENT FINANCE MARKET TO BE PARTICULARLY ATTRACTIVE, WITH STRONG LONG-TERM GROWTH".ACQUISITION SERVES TO EXTEND GROUP'S CURRENT DEVELOPMENT FINANCE BUSINESS.TRANSACTION IS EXPECTED TO ENHANCE PARAGON'S POST TAX PROFITS BY A HIGH SINGLE-DIGIT PERCENTAGE IN ITS FIRST FULL YEAR.FOLLOWING TRANSACTION, REMAINDER OF GROUP'S 2018 SHARE BUY-BACK PROGRAMME WILL BE SUSPENDED.  Full Article

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

UPDATE 1-UK Stocks-Factors to watch on Jan 28

Jan 28 Britain's FTSE 100 index is seen opening 22 points lower at 6,787 on Monday, according to financial bookmakers, with FTSE 100 futures down 0.36 percent ahead of the cash market open.