Plenti Hits Fourth Consecutive Record Quarter, Eyes $3B Loan Book
Plenti Group Limited has reported a fourth straight quarter of record loan originations, driving a 24% annual growth in its loan portfolio and doubling its half-year profits. The fintech lender is accelerating towards a $3 billion loan book target by March 2026 amid strong credit performance and strategic investments.
- Loan originations reach $475 million, up 47% year-on-year
- Loan portfolio grows 24% to $2.83 billion
- Half-year cash profit before tax surges 147%
- Strong credit metrics with reduced arrears and low losses
- CEO remuneration increased alongside company growth
Record Growth Momentum
Plenti Group Limited has delivered a robust trading update for the quarter ended 30 September 2025, marking its fourth consecutive quarter of record loan originations. The fintech lender originated $475 million in loans during 2Q26, a 47% increase compared to the same period last year and 9% higher than the previous quarter. This sustained momentum has propelled the company’s loan portfolio to $2.83 billion, representing a 24% year-on-year increase.
CEO Adam Bennett highlighted the company’s strategic focus on leveraging technology and partnerships to drive growth. "Our differentiated approach through technology, strong broker and corporate relationships, and operational execution across automotive, renewable energy, and personal loans continues to deliver for our customers and shareholders," Bennett said.
Diverse Loan Portfolio and Strong Credit
Plenti’s diversified loan portfolio spans automotive, renewable energy, and personal loans, each showing solid growth. Automotive loans surged 57% year-on-year to $1.62 billion, supported by the expanding "NAB powered by Plenti" car loan product, which saw a 23% increase in daily originations this quarter. Renewable energy loans grew 24%, driven by strong demand for home battery systems amid government rebate programs. Personal loans increased 25% year-on-year, maintaining steady demand despite a slight dip from the previous quarter.
Credit quality remains a standout feature, with annualised net credit losses at a low 94 basis points and 90+ day arrears reduced to 35 basis points, down from 50 basis points a year earlier. The weighted average Equifax credit score of 849 underscores Plenti’s focus on prime borrowers, contributing to stable credit outcomes even as the company scales.
Profitability and Strategic Outlook
Plenti’s financial performance reflects its operational success, with unaudited cash profit before tax for the first half of FY26 reaching $14.1 million, a 147% increase on the prior corresponding period. Cash net profit after tax rose 133% to $12.8 million. The company anticipates paying cash tax in FY26 following the utilisation of carried forward tax losses.
Looking ahead, Plenti is targeting a $3 billion loan portfolio by March 2026, signaling continued aggressive growth. To support this, the company plans increased investment in product development, technology, and operational capacity, which will push operating costs above $69 million for the full year. Despite higher costs, Plenti expects second-half profit growth to continue, albeit at a moderated pace, with an improved cost-to-net margin below 57% for FY26.
Leadership and Governance
Reflecting the company’s growth trajectory, Plenti’s board has approved an increase in CEO Adam Bennett’s fixed remuneration to $650,000 annually, effective April 2025. Bennett also received additional long-term incentive performance rights aligned with shareholder interests and market benchmarks. This move underscores the board’s confidence in Bennett’s leadership as Plenti scales its operations.
An investor webcast scheduled for 21 October 2025 will provide further insights into Plenti’s performance and strategic plans.
Bottom Line?
Plenti’s strong growth and credit discipline set the stage for a pivotal year as it pushes toward a $3 billion loan book amid strategic investments.
Questions in the middle?
- How will Plenti balance increased operating costs with profit growth in the second half of FY26?
- What impact will evolving credit regulations have on renewable energy loan conversions going forward?
- How significant will the NAB partnership become in driving automotive loan growth beyond FY26?
