Half-year profits surge at listed banking group

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Pre-tax profits surged at Solihull-headquartered Paragon Banking Group during the first half of its financial year, new figures have revealed.

Statutory profit before tax for the six months to 31 March 2021 increased by 68.8 per cent to £96.4m, up from £57.1m in the same period of 2020.

Additionally, underlying profits increased by 44.9 per cent to a record high at the half-year of £82.9m.

Chief executive Nigel Terrington said: "I am incredibly proud of these results. They reflect the hard work of our people during a challenging period as well as the success of our longstanding strategy to build a technology-enabled specialist banking group.

 link source - Insider Media

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