8:06 am, May 20, 2014
THE Paragon Group of Companies today reported record first half profits, with profit before tax up 19.3 per cent to £58.2m.
The surge in profit follows a strong first half for the specialist lender’s established buy-to-let lending and loan servicing operations, as well as a return to consumer loan origination through the launch of Paragon Bank and its initial range of car finance products through Paragon Car Finance.
Julian Rance, head of Paragon Car Finance, said: ‘We’ve been hugely encouraged by the positive response from brokers and dealers to our recent launch of Paragon Car Finance.
‘The Group’s backing and strong financial position are key factors in establishing confidence among the dealer community as we build our distribution and establish our focus on tailored lending solutions.’
