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Corporate governance

The Board of Directors is responsible for promoting the long-term, sustainable success of the Group, generating value for shareholders and contributing to wider society. It establishes the Group’s overall purpose, values and strategy and ensures the delivery of these within a robust corporate governance and corporate responsibility framework. Purpose, values and strategy are described in section A2 of the Group’s Annual Report and the corporate governance framework is described at section B3.

Throughout each year Paragon Banking Group PLC (“PBG”) aims to comply with the principles and provisions of the UK Corporate Governance Code (“the Code”), as issued by the Financial Reporting Council. A summary of its compliance during 2018/19 can be found in its Annual Report and Accounts.

Corporate Governance header
Corporate Governance office

The Board, in its deliberations and decision-making processes takes into account the views of the Group’s stakeholders and, where applicable, considers the impact of those decisions on the communities and environment within which the Group operates. While good corporate governance is important to the Board, so too is maintaining a reputation for high standards of business conduct in all of the Group’s operations, and management of conduct risk is a key part of the risk management framework. Section A5 of the Group’s Annual Report sets out information on corporate responsibility including the Group’s people policies and engagement with employees, its involvement in industry initiatives, its support for the community and its environmental, social and conduct impacts.

Information on corporate responsibility including our people policies, our involvement in industry initiatives, our commitment to customers and support for the community, environmental, social and conduct impacts is set out in Section A5 of our Annual Report. Paragon’s relationship with HMRC and the principles we apply to our tax affairs are also set out in this section.

We also endeavour to maintain an open and transparent relationship with our various regulators, including the PRA and FCA.

Subsidiary governance

A number of the corporate entities within Paragon are regulated by either the PRA and the FCA or solely by the FCA. PBG has oversight of these entities as part of its overall responsibility for the management of the Group and also to ensure that the Group’s values and standards in regulated spheres are met.​

Since the completion of the strategic reorganisation in September 2017 the directors of PBG have also comprised the Board of Paragon Bank PLC. The boards of both companies meet jointly in most circumstances. Oversight of Paragon Bank PLC, consequently, forms a core part of the board and committee meetings of PBG. This governance structure and approach ensures that Paragon Bank PLC adheres to the Code, as far as it is applicable to a subsidiary entity.

AGM and shareholders

AGM and shareholders

Leadership accountability

Leadership

Risk management

Risk management

Board effectiveness evaluation and training

Board effectiveness evaluation and training

Board committee structure

Committee structure

Regulatory disclosures

Regulatory disclosures

Articles of Association

Articles of Association