Paragon Banking profit rises on strength in commercial lending

(Reuters) - Paragon Banking reported a 5% rise in underlying earnings for the fiscal year on Tuesday, as a sharper focus in commercial lending helped the lender offset a Brexit-led slowdown in its mortgage business. The housing market in Britain has cooled since the country voted to leave the European Union in a referendum held over three years ago. That, along with stiff competition, regulatory and tax policy changes, has taken a toll on mortgage lenders."The performance of the UK mortgage..