Plenti Rockets Profit 147% as Loan Portfolio Nears $3 Billion
Plenti Group Limited has reported a striking 147% increase in cash profit before tax for the first half of FY26, driven by record loan originations and robust credit performance. The fintech lender’s loan portfolio surged 24%, positioning it on track for a $3 billion milestone by March 2026.
- Cash PBT jumps 147% to $14.1 million in 1H26
- Loan originations climb 46% to $912 million
- Loan portfolio grows 24% to $2.83 billion
- Strong credit metrics with net credit loss rate under 1%
- Advanced AI pilots and rapid deployment of WA Battery Scheme financing
Robust Growth in Profit and Lending
Plenti Group Limited has delivered a standout financial performance for the six months ending September 2025, with cash profit before tax soaring 147% year-on-year to $14.1 million. This surge is underpinned by a 46% jump in loan originations to $912 million and a 24% expansion in the loan portfolio, which now stands at $2.83 billion. The company’s half-year revenue also rose 20% to $149.5 million, reflecting both the growing scale and stability of its lending operations.
Credit Quality Remains a Key Strength
Plenti’s credit performance continues to impress, with an annualised net credit loss rate of just 0.94% and a 90+ days arrears rate improving to 39 basis points, down from 50 basis points a year earlier. The weighted average credit score of the loan portfolio remains high at 849, highlighting the prime nature of the borrowers Plenti serves. This strong credit discipline supports the company’s profitability and underpins investor confidence.
Technology and Strategic Initiatives Drive Momentum
Technology remains at the heart of Plenti’s growth strategy. The company has advanced its proprietary platform with pilots of artificial intelligence tools designed to enhance customer service and streamline loan processing. Notably, Plenti rapidly deployed the financing solution for the Western Australia Residential Battery Scheme within six weeks, showcasing its agility and integration capabilities in supporting clean energy initiatives.
Funding and Capital Markets Activity
Plenti has maintained a disciplined approach to funding, completing a $400 million personal loan and green asset-backed securities transaction during the period, followed by a $559 million automotive ABS deal priced at historically tight margins. These transactions bring total ABS issuance to over $4.3 billion. Additionally, the company secured a new $350 million warehouse funding facility, enhancing its capacity to support loan origination growth.
On Track for Ambitious Growth Targets
With Horizon 1 of its breakout growth strategy successfully executed, Plenti is on course to reach a $3 billion loan portfolio by March 2026. CEO Adam Bennett highlighted the compounding benefits of the technology-led model and operational execution as key drivers of the company’s exceptional half-year results. The company also anticipates utilizing all carried forward tax losses during FY26, signaling a transition to a fully taxable profit position.
Bottom Line?
Plenti’s blend of technology innovation and disciplined credit management positions it well for sustained growth as it approaches a $3 billion loan portfolio.
Questions in the middle?
- How will Plenti’s AI pilots translate into measurable operational efficiencies and customer experience improvements?
- What are the prospects and timing for Horizon 2 growth acceleration beyond March 2026?
- How might rising interest rates or economic shifts impact Plenti’s prime loan portfolio credit performance?