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Paragon buys unsecured loan book

The Paragon Group of Companies has acquired further unsecured consumer loans through its Idem Capital Securities subsidiary from the Royal Bank of Scotland.

The deal, worth £38,000, is being financed from Paragon’s cash reserves and represents the value at which the acquired loans will be taken on to the group’s balance sheet.

Opportunities to make further modest acquisitions under the agreement are anticipated.

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