Paragon Banking Group FY Profit Rises - Quick Facts

Paragon Banking Group PLC said it delivered strong earnings growth with a 62% increase in profits for the year ended 30 September 2021. The Group said its every lending business has made excellent progress, and at over 2.6 billion pounds, aggregate new lending now comfortably exceeds pre-pandemic levels.

For the year ended 30 September 2021, underlying profit increased by 61.8% to 194.2 million pounds from 120.0 million pounds, last year. Underlying earnings per share was up 62.5% to 59.3 pence from 36.5 pence. Statutory profit before tax increased by 80.5% to 213.7 million pounds from 118.4 million pounds. Earnings per share was 63.0 pence compared to 35.6 pence.

Net interest income increased to 310.5 million pounds from 278.1 million pounds, last year. Total operating income increased by 10.1% to 324.9 million pounds from 295.1 million pounds.

The Board proposed a final dividend for the year of 18.9 pence per share. This would give a total dividend of 26.1 pence per share. The Board has affirmed the existing dividend policy going forward. However it noted that, given the unusual factors affecting the 2021 distribution, any interim dividend declared for 2022 would not necessarily bear the normal relation to the preceding final distribution.

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