From Growth to Gains: Plenti’s Record-Breaking Quarter

Profitability is taking shape

Loan book climbs to $2.7 billion

Plenti’s loan book grew 6% over the quarter and 21% year-on-year, with growth supported by more repeat borrowers, strategic partner channels and operational consistency setting the business up well as they pursue their target of a $3 billion loan book by March 2026.

Revenue hits A$73.3 million

Quarterly revenue rose 20% on the prior year. Net interest margins remained steady, with a temporary lift post-April market interest rate reductions. 

Credit losses fall as book quality holds

Net credit losses dropped to 0.94% (annualised), down from 1.30% a year earlier.

Scale driving profitability

With the loan book growing rapidly and low credit losses, Plenti has flagged growing profitability momentum on top of the 126% uplift in Cash NPAT achieved in the prior financial year.

Here’s what’s powering the next phase

Plenti’s partner-led distribution and tech-first delivery model continue to be its edge and this quarter was no exception.

NAB originations more than double

The NAB co-branded auto loan channel grew its book from A$16.7 million to A$38.7 million, powered by stronger acquisition, product alignment and marketing execution.

WA battery scheme launched

In June, Plenti launched the WA Government’s new Residential Battery Scheme – building and deploying a bespoke installer and customer journeyin just six weeks. The Federal Government $2.3 billion home battery rebate scheme should also drive momentum in renewable energy lending.

ABS funding engine rolls on

May saw the completion of Plenti’s 10th ABS transaction – A$400 million in personal and green loans, priced at a 1.40% weighted average margin. Investor demand hit new highs with Plenti’s total ABS issuance now topping $3.8 billion.

What could impact performance?

While the quarter was strong, several factors could influence Plenti’s performance over the coming periods:

• Funding market conditions: As a non-bank lender, Plenti’s cost of capital depends on access to securitisation and wholesale markets. Any tightening in credit markets could impact margins or origination volumes.
• Economic environment: Consumer sentiment, employment trends and interest rate movements could influence demand for loans and repayment behaviour.
• Competitive pressure: Banks and fintechs continue to compete aggressively in the consumer lending space, which could affect pricing and customer acquisition.

Plenti remains focused on maintaining credit quality and scaling with cost discipline.

From playbook to performance

If the deep dive told the story of where Plenti could go, this update marks another step forward as that foundation translates into record volumes and rising revenue.

With nearly A$2.7 billion in loans, falling credit losses, deepening partner traction and a pathway to recurring profitability, Plenti is starting to look less like a challenger and more like a future leader in Australian lending. But as always, future performance will depend on both execution and external conditions.