UK's Paragon Banking Group falls after higher-than-expected charge
02/06/2026 08:47
BUZZ-UK's Paragon Banking Group falls after higher-than-expected charge ** Shares of Paragon Banking Group PAGPA.L down as much as 7.5% at 682 p, among top losers on London's mid-cap index .FTMC
** Impairment charge of £21.5 million ($28.97 million) related to development finance loans was higher than expected, Jefferies analysts say
** Co says further tightening of NIM anticipated in H2
** Brokerage says that while PAGPA may beat H2 margin forecast, co has taken measures to mitigate deposit market pressure over the last six months that may be harder to repeat
** Up to Monday's close, stock had fallen 13.7%, compared to a 4.19% rise in FTMC($1 = 0.7421 pounds)
(Reporting by Simone Lobo in Bengaluru)
((Simone.Lobo@thomsonreuters.com, +919920570373))