Plenti Posts $480M in Loans, Portfolio Hits $3B Ahead of Schedule
Plenti Group Limited has reported a fifth consecutive quarter of record loan originations, hitting $480 million and surpassing its $3 billion loan portfolio target ahead of schedule in January 2026.
- Fifth consecutive record quarter with $480 million in loan originations
- Loan portfolio grew 24% year-on-year to $2.98 billion at December 2025
- Achieved $3 billion loan portfolio target early in January 2026
- Strong credit performance with net credit losses down to 91 basis points
- Completed largest automotive ABS securitisation of $559 million
Robust Growth Across Lending Verticals
Plenti Group Limited has delivered yet another impressive quarterly update, marking its fifth consecutive record for loan originations. The fintech lender originated $480 million in loans during the December 2025 quarter, representing a 25% increase compared to the same period last year and a slight 1% rise from the previous quarter, despite having fewer business days. This momentum propelled Plenti to surpass its $3 billion loan portfolio target ahead of schedule in January 2026, a milestone originally set for March.
The loan portfolio, diversified across automotive, renewable energy, and personal loans, expanded to $2.98 billion by the end of December 2025. Each segment showed strong year-on-year growth, with automotive loans increasing by 24%, renewable energy loans by 24%, and personal loans by 23%. This balanced growth underscores Plenti's strategic focus on leveraging technology and data to serve prime credit customers effectively.
Credit Quality and Funding Strength
Credit performance remained solid, with annualised net credit losses improving to 91 basis points, down from 103 basis points a year earlier. The 90+ day arrears rate stayed low at 41 basis points, reflecting the quality of Plenti’s prime loan book and stable economic conditions. The weighted average Equifax credit score held steady at a high 849, reinforcing the company’s disciplined lending approach.
On the funding front, Plenti completed its largest automotive asset-backed securities (ABS) transaction to date, raising $559 million in November 2025. This deal achieved the tightest pricing since 2021, with a weighted average margin of 1.02%, down from 1.24% in an earlier 2025 ABS issuance. Total securitisation issuance now exceeds $4.3 billion, providing a strong capital base to support ongoing growth.
Strategic Partnerships and Operational Updates
Plenti’s partnership with NAB continues to develop, with the “NAB Powered by Plenti” automotive loan portfolio growing 35% quarter-on-quarter to $90.1 million. While daily originations remained flat, new initiatives launched in December aim to boost application volumes and conversion rates, with further collaborative efforts planned for the coming quarters.
However, the company also announced the resignation of Chief Financial Officer Miles Drury, who has been instrumental in Plenti’s growth since its 2020 IPO. Drury will remain through a four-month transition period, with a search for his replacement well underway. CEO Adam Bennett praised Drury’s contributions and highlighted the strength of the existing finance team to support Plenti’s scaling ambitions.
Looking Ahead
Despite a mid-quarter increase in funding costs driven by market expectations of Reserve Bank rate moves, Plenti has managed to recover a portion of margin through pricing adjustments without dampening loan demand. The company remains focused on maintaining efficiency, profitability, and disciplined credit standards as it accelerates growth into the second half of its fiscal year.
Bottom Line?
Plenti’s early hit of its $3 billion loan portfolio target and ongoing credit strength set the stage for a pivotal year ahead, even as leadership changes loom.
Questions in the middle?
- How will Plenti’s new CFO influence its strategic growth and funding strategies?
- What impact will rising funding costs have on margins and loan pricing in coming quarters?
- Can Plenti’s partnership with NAB accelerate automotive loan originations as planned?
