Mortgage business Paragon has expanded with the acquisition of a £43m portfolio of unsecured consumer loans from the Royal Bank of Scotland.
The deal, which is being financed from Paragon’s cash reserves, is Paragon’s fourth this year.
Nigel Terrington, chief executive, said: “We are extremely pleased to announce a further loan portfolio acquisition through our investment division, Idem Capital.
“Our servicing division, Moorgate Loan Servicing, has managed this portfolio of loans for the last two years.
“Paragon, through Idem Capital, has made great progress with its strategy.
“This is the sixth portfolio acquired since mid-2009, of which four have been acquired in 2011, bringing the total investment to date to £89.5m.
“We continue to seek further attractive portfolio acquisition opportunities.”
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