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2021 Annual Report and Accounts

The Group’s ability to provide support for our people, customers and intermediaries throughout the pandemic demonstrates the resilience of our proposition.

Fiona Clutterbuck
Chair of the Board

Our strategic priorities

We focus on specialist customers and aim to deliver long-term sustainable growth and shareholder returns through a low risk and robust model. We have five strategic priorities that help us deliver our strategy:



Growing our lending in specialist segments of the market where customers are underserved by the large, high street banks



Developing our range of savings and specialist lending products in new and existing markets, organically and through acquisition



Implementing digitally enabled, cloud-based platforms to aid delivery of outstanding customer service, greater efficiency, enhanced decision making and to address new markets

Capital management

Capital management

Managing capital is a critical lever as we invest to grow our business and people while evolving our technology, risk, governance and enterprise frameworks



Reducing the impact our operations have on the environment and ensuring we have a positive effect on our stakeholders and communities

Operating highlights


Specialist landlords generate over 95% of new buy-to-let business


Commercial lending customer base now over 35,000 small and medium sized business


Savings deposits pass £9 billion


4.5/5 Feefo review score from savings customers


95% of employees are proud to work at Paragon

Financial highlights

Underlying profit before tax £194.2 million 61.8% higher (2020:£120.0 million)

Dividend per share 26.1 pence 81.3% higher (2020:14.4 pence)

Capital - CET1 ratio 15.4% strengthened in the year (2020:14.3%)

Total loans to customers £13.4 billion 6.1% higher (2020:£12.6 billion)