Plenti Rockets to $437M in Loan Originations, Eyes $3B Loan Book
Plenti Group has reported a third consecutive record quarter with $437 million in loan originations, driven by strong automotive and NAB partnership growth. The fintech lender also secured a key government contract and continues to deliver low credit losses.
- Record $437 million loan originations, up 44% year-on-year
- Loan portfolio grows 21% to $2.7 billion
- NAB powered by Plenti car loans double daily originations
- Secured WA Residential Battery Scheme administration contract
- Low credit losses at 94 basis points annualised
Record Growth in Loan Originations
Plenti Group Limited (ASX – PLT) has delivered yet another strong quarter, reporting loan originations of $437 million for the quarter ended 30 June 2025. This marks a 44% increase compared to the prior corresponding period and a 7% rise from the previous quarter, underscoring sustained momentum across its lending products.
The growth was notably driven by the automotive loan segment, which surged 50% year-on-year to $229 million, bolstered by the NAB powered by Plenti (NPBP) car loan product. This partnership saw its daily origination rate more than double, reflecting successful collaboration and product refinement.
Expanding Loan Portfolio and Strong Credit Performance
Plenti’s loan portfolio expanded to $2.7 billion, a 21% increase over the past year and a 6% rise from the previous quarter. This growth is a critical driver of the company’s revenue and profitability trajectory. Despite rapid expansion, Plenti maintained disciplined credit standards, with annualised net credit losses falling to 94 basis points, down from 130 basis points a year earlier.
The company’s focus on prime credit customers is evident, with the weighted average Equifax credit score holding steady at 847. This credit quality, combined with stable macroeconomic conditions, supports Plenti’s optimistic outlook.
Strategic Wins and Technology Leadership
Beyond lending growth, Plenti secured a significant contract to administer Western Australia’s Residential Battery Scheme. The company rapidly developed and implemented an end-to-end technology solution within six weeks, enabling streamlined access to rebates and financing for accredited installers. This win highlights Plenti’s expanding role in clean energy financing and its ability to leverage proprietary technology platforms to build diverse distribution channels.
Additionally, Plenti completed a $400 million asset-backed securities (ABS) transaction with strong investor demand and improved pricing, further strengthening its funding base. The company has now completed over $3.8 billion in ABS issuances across ten transactions.
Looking Ahead – Ambitious FY26 Targets
CEO Adam Bennett expressed confidence in the company’s trajectory, emphasizing the foundation laid for reaching a $3 billion loan book by the end of the financial year. Plenti aims to continue scaling profitably while delivering $25 million in cost efficiencies. The company’s integrated approach; combining technology, strategic partnerships with NAB and Tesla, and a diversified loan portfolio; positions it well to meet these objectives.
Investors will be watching closely as Plenti balances rapid growth with credit discipline and operational efficiency in a competitive fintech lending landscape.
Bottom Line?
Plenti’s record quarter sets the stage for ambitious growth, but sustaining momentum will require navigating evolving market and credit conditions.
Questions in the middle?
- How will Plenti sustain loan origination growth amid rising competition?
- What impact will the WA Residential Battery Scheme contract have on long-term revenues?
- Can Plenti maintain low credit losses as the loan book approaches $3 billion?