Nigel Terrington

Specialist bank reports 43% development finance lending increase



Paragon Banking Group has reported a 43% increase in development finance lending between the 1st October to 31st December 2017, compared with the same period in 2016.


The specialist bank published its latest quarterly results today (23rd January) and reported strong progress in most lending sectors.

Paragon provided £14.4m of development finance loans during the final three months of 2017, up from £10.1m lent during the same period the previous year.

Nigel Terrington, chief executive at Paragon Banking Group (pictured above), said it had made excellent progress during the quarter.

“The lending growth achieved across the group has been outstanding and reflects the increasing strength of the franchise.

“Our retail deposit base continues to deepen, providing us with a stable platform for growth and the ability to optimise further the group's funding structure.

“The organisational changes we completed last year – coupled with the growing demand and opportunity within specialist UK lending markets – will enable us to build on this momentum throughout the year."

Overall, total new lending reached £469.8m, a 65% increase on the £284.3m figure for the same period in 2016.



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