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Paragon reports 54% asset finance lending increase

Martin Greenland | 13:59 Friday 25th May 2018

Paragon Banking Group has seen its asset finance lending increase to £164m in the six months to 31st March 2018, up 54% on the same period last year.

The group's total loan balances for its asset finance operations increased by 36% to £428m from the £314m recorded 12 months ago.

In addition, Iceberg, a specialist broker and lender in the professional services sector added a further £42m of new lending, following its acquisition by Paragon in December 2017.

“We continue to see exciting opportunities to expand Paragon's expertise and reach in the asset finance market,” said Gary Leitch, asset finance director at Paragon (pictured above).

“The launch of our new aviation proposition and the acquisition of legal specialist Iceberg expands our sector expertise and underpins our progress in the first half.”

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