Plenti Group Limited has reported a record unaudited FY26 Cash Profit Before Tax of $30.8 million and a loan portfolio exceeding $3.1 billion, beating its original target months ahead of schedule. The fintech lender's growth was supported by strong loan originations, robust credit performance, and strategic technology investments.
- FY26 Cash PBT up 117% to $30.8 million
- Loan portfolio surpasses $3.1 billion, 22% growth year-on-year
- Quarterly loan originations hit $475 million, a daily record
- NAB powered by Plenti portfolio grows 34% quarter-on-quarter
- Completed $400 million ABS transaction at best pricing to date
Record Profit and Portfolio Growth Exceed Expectations
Plenti Group Limited (ASX:PLT) closed FY26 with a bang, delivering an unaudited Cash Profit Before Tax (PBT) of $30.8 million, a 117% increase on the prior year. Cash Net Profit After Tax (NPAT) also nearly doubled, reaching $27.3 million. These figures underscore Plenti’s accelerating growth trajectory and operational discipline, with the fintech lender surpassing its $3 billion loan portfolio target well ahead of the original March 2026 deadline, hitting $3.1 billion by the end of March.
This milestone builds on the company’s momentum from earlier in the year, where Plenti recorded a fifth consecutive quarter of record loan originations and a loan portfolio nearing $3 billion by December 2025, as highlighted in its fifth consecutive record quarter. The latest results confirm that growth has not only been sustained but accelerated into the second half of FY26.
Strong Loan Originations and Diversified Portfolio
Quarterly loan originations reached $475 million, up 17% on the prior corresponding period and consistent with the previous quarter after adjusting for fewer business days. This translated into a record daily origination rate for Plenti. The loan book’s 22% year-on-year growth was driven by all three lending verticals: automotive loans rose 24% to $1.78 billion, renewable energy loans increased 25% to $427 million, and personal loans grew 18% to $900 million.
Automotive lending was buoyed by the “NAB powered by Plenti” (NPBP) partnership, which saw its loan portfolio swell 34% quarter-on-quarter to $121 million. Originations per business day in this channel jumped 35%, reflecting intensified collaboration between Plenti and NAB to boost demand and conversion rates.
Credit Quality and Funding Strength
Credit performance remained solid with annualised net credit losses at a low 96 basis points, slightly higher than the previous quarter but well below the 116 basis points recorded a year earlier. Ninety-plus day arrears held steady at 42 basis points. The weighted average Equifax credit score of the loan portfolio nudged up to 850, emphasizing Plenti’s focus on prime borrowers.
On the funding front, Plenti completed a $400 million personal and renewable energy loan ABS transaction in February 2026, its sixth PL & Green ABS deal and twelfth overall. The deal attracted a record number of investors and achieved a weighted average margin of 1.15%, the best pricing Plenti has secured for this type of transaction, tightening 25 basis points compared to the previous ABS in May 2025. The company also repaid $12.5 million of corporate debt during the quarter, reducing its drawn corporate facility to $20 million and bolstering its cash position.
Technology and Efficiency Gains Through AI
Plenti continued to leverage its proprietary digital platform and AI-driven initiatives to enhance customer experience and operational efficiency. Notably, a new front-end digital loan journey was developed 70% faster than previous benchmarks using AI-assisted tools. The DocAI platform processed over 35,000 documents this quarter, improving straight-through loan processing rates. Additionally, an agentic AI platform was deployed to support customer service and sales, with plans for ongoing automation expected to further increase speed and efficiency in FY27.
Operating costs remained tightly controlled, with the cost-to-net margin for FY26 at 56.7%, just below the 57% target threshold, reflecting Plenti’s commitment to efficiency as it scales.
Looking Ahead to FY27
Plenti plans to release its full audited FY26 results and provide guidance for FY27 on 20 May 2026. Given the strong finish to FY26 and the company’s investments in technology and strategic partnerships, market watchers will be keen to see how Plenti navigates potential macroeconomic headwinds and funding cost pressures while maintaining growth and credit quality.
Bottom Line?
Plenti’s early achievement of its $3 billion loan portfolio target and record profitability set a high bar for FY27, but rising funding costs and economic uncertainties warrant close attention.
Questions in the middle?
- How will Plenti manage margin pressures amid higher funding costs in FY27?
- What impact will ongoing AI and automation investments have on operating leverage?
- Can the NAB powered by Plenti partnership sustain its rapid growth trajectory?