LONDON (dpa-AFX) - Paragon Banking Group plc (PAG.L) Tuesday, in its COVID-19 update, said its business operated in line with its expectations for the period from October to March, prior to any COVID-19-related impacts, with sustained levels of new lending flows in its Mortgages and Commercial Lending businesses.
The Group said, with over 90% of its employees working from home and strength of its business, it remains too early to determine the impact of Covid-19 on its new business flows, redemptions, income recognition and IFRS9-related impairment charges.
Paragon stated the Board has decided not to declare an interim dividend with its forthcoming half-year results, but will consider an appropriate dividend for the year as a whole with its full-year results in November, when the Group will know more about the extent of this pandemic crisis, as well as its performance and outlook.
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