LONDON (dpa-AFX) - Paragon Banking Group plc announced its trading update based upon the business performance from 1 October to 31 December 2019. The Group said the business has traded in line with management expectations for the quarter. At 684.9 million pounds, new business volumes were 3.7% higher than in the previous year. Net loan book increased by 1.6% during the quarter to 12.4 billion pounds.
Nigel Terrington, Chief Executive, said: 'The Group has made a strong start to our 2020 financial year where good progress has been achieved in our key divisions. Our loan portfolios continue to deliver an exemplary credit performance. We look forward to the year ahead with confidence as we continue to pursue a diversification strategy.'
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