Paragon Bank recently passed through the £2 billion savings mark, just over two and half years since the bank’s launch in February 2014.
Since our savings accounts made their market debut, the number of customers has grown rapidly and now exceeds a spectacular 55,000 – with over 15% of customers opting to take out not just one, but multiple accounts with us.
The growth has been achieved by regularly introducing consistently competitive accounts to attract new customers, while maintaining a sharp focus on service quality. This year, the addition of cash ISAs to the savings range has been a distinct highlight.
Importantly, the growth in our savings deposits gives us the opportunity to expand our lending to consumers and business customers across the UK.
This year, in particular, the expansion in our savings deposits has helped fund our successful entry into business lending, providing us with the firepower to add specialist lending expertise to assist small and medium-sized enterprises up and down the country with the funding they need to achieve their growth ambitions.
Providing finance for a wide range of business assets from vehicles and construction equipment to broadcast and veterinary apparatus, Paragon Bank Asset Finance has grown its lending to UK, small and medium sized businesses over the last 12 months and has ambitious plans to help even more customers in the future.
Paragon Bank provides the finance that helps businesses and organisations across the UK to achieve their goals:
To find out more about our business lending, visit our Asset Finance division