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Paragon Banking Group PLC (PARA.L)

PARA.L on London Stock Exchange

485.00GBp
21 Aug 2018
Change (% chg)

-1.20 (-0.25%)
Prev Close
486.20
Open
483.00
Day's High
485.00
Day's Low
483.00
Volume
955
Avg. Vol
567,937
52-wk High
558.50
52-wk Low
400.09

Latest Key Developments (Source: Significant Developments)

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

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

UPDATE 2-British lender Paragon flags subdued mortgage market despite higher H1 profit

May 24 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.