Brief: Paragon Banking Group posts 27% rise in FY pretax profit

Paragon Banking

03/12/2024 07:03

Dec 3 (Reuters) - Paragon Banking Group PLC  PAGPA.L :
    * FY OPERATING PROFIT BEFORE FAIR VALUE ITEMS INCREASED BY
5.4% TO
£292.7 MILLION
    * STATUTORY PROFIT BEFORE TAX INCREASED BY 27.0% TO £253.8
MILLION
(2023: £199.9 MILLION)
    * NET INTEREST MARGIN WIDENED BY 7 BASIS POINTS YEAR-ON-YEAR
TO
316 BASIS POINTS
    * COST EFFICIENCY REMAINS STRONG, COST-TO-INCOME RATIO 36.1%
(2022: 36.6%)
    * CAPITAL RATIOS REMAIN STRONG: CET1 RATIO 14.2% (2023:
15.5%),
REFLECTING STRONG GROWTH AND SIGNIFICANT CAPITAL RETURNS
    * TOTAL DIVIDEND ROSE 8.0% TO 40.4P (2023: 37.4P)

Source text:  ID:nRSC5078Oa 
Further company coverage:  PAGPA.L 

 (Reporting By Sinead Cruise)
 ((sinead.cruise@thomsonreuters.com;))