logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Retailers Macy's, Inc. (M) and Dollar General Corp. (DG) reported on Thursday that net profits for the first quarter declined from last year, with Macy's topping estimates, while Dollar General missed it. Net sales at both retailers missed expectations. Both Macy's and Dollar General also slashed their guidance for the full-year 2023. The U.S. Food and Drug Administration has warned certain retailers against unauthorized sales of popular disposable e-cigarettes, mainly various types of Puff and Hyde brand e-cigarettes. Under the retailer inspection blitz, warning letters have been issued to 30 retailers, including one distributor, for illegally selling such products. All products cited in the warning letters are disposable Tillamook County Creamery Association is recalling a limited quantity of family-size 1.5qt cartons of Tillamook Waffle Cone Swirl ice cream due to undeclared wheat and soy, known allergens, the U.S. Food and Drug Administration said. The Tillamook Waffle Cone Swirl ice cream was mistakenly packaged in a Tillamook Chocolate Peanut Butter ice cream carton.
Follow RTT