This morning, Paragon Banking Group has published 1H26 results with underlying profit down 2.5% YoY to £145.7m (+3% vs CAVe and c.50% of FY consensus). This was driven by operating income up 2% YoY to £259.2m (+4% vs CAVe and c.51% of FY consensus), operating expenses up 3% YoY to £92m (1% lighter than CAVe) and impairments up 40.5% YoY to £21.5m (significantly higher vs CAVe). The Group’s interim dividend of 15.1p is in-line with our expectations and Paragon has extended its buyback programme b ....