Paragon Banking Says Q1 New Lending Higher Than Last Year

Paragon Banking Group PLC (PAG.L) on Friday said its new lending in the first quarter ended December 31, 2022, increased 21.7% to 861.7 million pounds from 798 million pounds in the same quarter a year ago.

The Group's Commercial Lending volumes declined to 270.6 million pounds from 298.8 million pounds in the first quarter last year.

"The Board's FY23 guidance for new business flows, operating costs and RoTE remain unchanged, and net interest margin growth guidance is being increased by 5bps to +25bps," Paragon said.

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