November 23, 2017 / 7:14 AM / 23 days ago

UK lender Paragon's FY profit rises

Nov 23 (Reuters) - Paragon Banking Group posted a slim 1.1 percent rise in full-year pretax profit, helped by lending growth across its business.

Paragon, a British lender that has been diversifying from its core buy-to-let mortgage market, said pretax profit rose to 144.8 million pounds ($193 million) for the year ended Sept. 30, from 143.2 million pounds a year earlier.

Total lending rose 28.8 percent to 1.85 billion pounds, with buy-to-let completions rising 20.6 percent to 1.39 billion pounds, compared with the same period a year earlier.

($1 = 0.7510 pounds)

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Saumyadeb Chakrabarty

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