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Prices & Quotes - UK Markets - Paragon Banking Group (PAG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 552.50p
Change Today:
4.50p
Market Cap:
1,400.13m
Sector:
Financial Services

Paragon Banking Q1 in line, new business volumes rise

By Michele Maatouk

Date: Thursday 30 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Paragon Banking said on Thursday that it traded in line with management's expectations in the quarter to the end of December, with new business volumes up 3.7% on the same period a year ago.
Volumes came in at 684.9m, with stable redemption levels, while the net loan book rose 1.6% to 12.4bn.

Specialist buy-to-let lending was 1.1% higher on the year at 375.4m, while other mortgage and amateur buy-to-let volumes were lower in comparison following Paragon's decision to focus on higher margin, professional business. Overall mortgage lending fell 4%, it said.

The quarter end pipeline figure for buy-to-let was 814m, up 11.6% on the year, of which 92% was specialist.

New business volumes in commercial lending rose 19.9% to 254.1m Paragon said the faster growth rate in commercial lending reflects the low market share of its business lines relative to the mortgage division. At the quarter end, commercial lending represented 12% of the group's net loan assets.

Asset quality remains stable, the company said.

Deposit balances grew to 6.6bn in December from 5.6bn a year earlier and "continue to benefit from product and channel expansion".

Chief executive Nigel Terrington said the company had made a "strong" start to its 2020 financial year, where good progress has been achieved in its key divisions.

"Our loan portfolios continue to deliver an exemplary credit performance. We look forward to the year ahead with confidence as we continue to pursue a diversification strategy. Whilst we welcome recent survey reports indicating improving confidence, it is too early to determine whether this will convert into a sustained improvement in economic activity and we will continue to maintain conservative risk appetite."

At 0850 GMT, the shares were down 1.5% at 519.00p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PAG Market Data

Currency UK Pounds
Price 552.50p
Change Today 4.50p
52 Week High 569.50p
52 Week Low 294.00p
Volume 290,693
Shares Issued 253.42m
Market Cap 1,400.13m

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PAG Dividends

  Latest Previous
  Interim Final
Ex-Div 01-Jul-21 28-Jan-21
Paid 23-Jul-21 26-Feb-21
Amount 7.20p 14.40p

Trades for 30-Jul-2021

Time Volume / Share Price
16:35 80,322 @ 552.50p
16:29 45 @ 554.00p
16:29 58 @ 554.00p
16:28 157 @ 554.00p
16:28 41 @ 554.00p

PAG Key Personnel

CEO Nigel S Terrington
CFO Richard Woodman
Chair Fiona Clutterbuck