Paragon Bank Reports 138.6% Surge in Pre-Tax Profits, Shares Reach 17-Year High
Wednesday, 5 June 2024, 12:19
Paragon Bank Reports Record Profits
The Solihull-based lender, Paragon Bank, recently disclosed a substantial surge in pre-tax profits, totaling £110.6 million for the first half of the fiscal year. The impressive 138.6% increase was attributed to lower fair value reversals, highlighting the bank's robust financial strength. This outstanding performance has led to a surge in Paragon Bank's shares, reaching a 17-year high.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.