Plenti Hits Record $536m Loan Originations as Portfolio Surges to $3.3bn

Record Loan Originations Across All Verticals

Plenti Group (ASX:PLT) kicked off FY27 with a bang, reporting a record $536 million in quarterly loan originations for 1Q27, marking a 22% increase on the prior corresponding period and 13% on the previous quarter. This milestone was driven by strong growth in all three lending verticals: automotive, renewable energy, and personal loans.

June alone saw a monthly originations record of $221 million, up 39% year-on-year and 28% on the previous monthly record set just the month before. CEO Adam Bennett attributed this surge to the company’s proprietary technology platform and robust partner relationships, which have scaled to meet growing demand without compromising service standards.

Loan Portfolio Expansion and Diversification

The loan portfolio swelled to $3.3 billion, a 23% year-on-year increase and 6% quarter-on-quarter growth. Automotive lending remains the largest segment at $1.88 billion, up 24% year-on-year, supported by both consumer and commercial loans and the NAB powered by Plenti (NPBP) product, which itself grew 26% quarter-on-quarter to $153 million.

Renewable energy loans jumped 77% year-on-year to $86 million in originations this quarter, bolstered by government incentives such as the WA Residential Battery Scheme, which processed over 9,900 rebates. Personal loans also saw steady growth, up 5% year-on-year to $168 million, driven by both broker and direct channels.

Credit Quality and Profitability Remain Strong

Plenti’s disciplined credit approach continues to pay off, with annualised net credit losses holding at 98 basis points, or 68 basis points net of a $2.2 million debt sale completed during the quarter. The 90+ day arrears rate remained low at 46 basis points, reflecting the prime credit quality of the portfolio, which maintained a stable weighted average Equifax score of 851.

Profitability metrics were bolstered by the debt sale, with Cash Profit Before Tax (PBT) reaching $10.7 million for the quarter and statutory PBT at $6.6 million. Plenti’s preferred Cash PBT metric excludes unrealised credit losses, providing a clearer view of underlying trading performance amid growth-driven provisioning.

Strategic Partnerships and FY27 Objectives

Beyond financials, Plenti was appointed as an inaugural finance provider for the NSW Government’s $480 million Home Energy Saver program, positioning the company to capitalise on growing demand for renewable energy financing.

Looking ahead, Plenti aims to build on its origination momentum to hit $600 million in quarterly loan originations by the end of FY27, while maintaining cost efficiency with a cost-to-net margin target below 55% and driving meaningful Cash PBT growth. The company’s focus remains on scaling the loan book profitably without compromising its hallmark credit quality.