Plenti opens FY27 with record $536m in quarterly loan originations
In its 1Q27 trading update for the quarter ended 30 June 2026, Plenti Group reported record quarterly loan originations of $536 million, up 22% on the prior corresponding period (PCP) and 13% on the prior quarter.
Origination records were achieved across all three lending verticals, alongside a record June month of $221 million, up 39% on PCP. The result reinforced Plenti’s (ASX: PLT) position as a profitable, cash-generative digital lender with a $3.3 billion prime loan portfolio.
Plenti FY26 results showed Cash PBT of $30.8m, up 117% year-on-year, as the lender closed its $3.106bn portfolio two months ahead of its Horizon 1 schedule and entered FY27 with originations up 32% for the full year.
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1Q27 highlights at a glance
Key metrics disclosed for the quarter ended 30 June 2026 included:
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Record quarterly originations: $536m (+22% PCP, +13% QoQ)
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Record June originations: $221m (+39% PCP)
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Loan portfolio: $3.3bn (+23% PCP, +6% QoQ)
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NAB powered by Plenti (NPBP) portfolio: $153m (+26% QoQ)
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Revenue: $84.6m (+16% PCP)
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Cash PBT: $10.7m; statutory PBT: $6.6m
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Annualised net credit losses: 98bps (excluding debt sale); 68bps net of the $2.2m debt sale impact
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90+ day arrears: 46bps
Record growth across all three lending verticals
Originations in April were softened by the concentration of public holidays. Demand then strengthened through the remainder of the quarter, supported by the usual lift in activity ahead of financial year-end, particularly in automotive lending.
Performance across the three verticals broke down as follows:
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Automotive: record $281m (+23% PCP, +12% QoQ), with growth in both consumer and commercial lending. The NPBP product complemented the result with 6% growth in daily originations on the prior quarter, taking the portfolio to $153m.
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Renewable energy: record $86m (+77% PCP, +27% QoQ), supported by Government incentive programmes at both Federal and State level. The WA Residential Battery Scheme contributed meaningfully, with over 9,900 rebates processed during the quarter.
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Personal: record $168m (+5% PCP, +7% QoQ), underpinned by strong demand across broker and direct distribution channels, alongside steady growth from repeat and cross-sell customers.
| Metric | 1Q26 | 4Q26 | 1Q27 | VPCP% |
|---|---|---|---|---|
| Total originations ($m) | 437 | 475 | 536 | +22% |
| Automotive originations ($m) | 229 | 251 | 281 | +23% |
| Renewable energy originations ($m) | 49 | 68 | 86 | +77% |
| Personal originations ($m) | 160 | 157 | 168 | +5% |
| Total loan portfolio ($m) | 2,679 | 3,106 | 3,282 | +23% |
| Automotive portfolio ($m) | 1,514 | 1,779 | 1,881 | +24% |
| Renewable energy portfolio ($m) | 356 | 427 | 470 | +32% |
| Personal portfolio ($m) | 809 | 900 | 932 | +15% |
Adam Bennett, Chief Executive Officer
“Delivering record originations across all three of our lending verticals is a fantastic way to open FY27 and our Horizon 2 strategy. Total loan originations reached $536 million, up 22% on prior corresponding period, a result built on the strength of our purpose-built technology platform and proprietary data and credit capability, and the strong relationships we hold with our partners and distribution channels. June was a real highlight, with $221 million in loan originations, up 39% on June last year and up 28% on our previous record, set only the month prior.”
How Plenti makes money — and why credit quality matters
Plenti operates as a “prime” lender, meaning it targets borrowers with strong credit histories.
The net interest margin on new loan originations was slightly lower quarter-on-quarter at approximately 5.3%. Plenti attributed this to a shift in product mix, driven by the very strong growth in the Auto and Renewable verticals, alongside usual market financial year-end promotions. Notably, this figure reflects the margin on new originations, not the portfolio-wide margin.
Supporting the quality of that growth, the portfolio’s weighted average Equifax credit score remained stable at 851. The company also noted that no single exposure exceeded $300,000 across its three verticals, reflecting the granularity and diversification of the loan book.
Plenti’s ABS funding model underpins the scalability of that loan book growth, with the company’s securitisation programme allowing the portfolio to expand without equity dilution; a $400m transaction earlier in the year achieved record-low margins and record investor participation, with lifetime issuance exceeding $4.7 billion.
Credit performance and profitability hold firm
Annualised net credit losses, excluding the debt sale impact, were 98bps, broadly in line with 94bps in PCP and 96bps in the prior quarter. The reported 68bps benefited from a $2.2m debt sale completed during the quarter. Plenti noted it has a track record of executing debt sales from time to time.
90+ day arrears remained low at 46bps at quarter end, down from 49bps in PCP but up modestly from 42bps in the prior quarter. Together, these metrics pointed to a stable and disciplined credit position through the period.
Plenti chose to disclose profitability this quarter due to the material receipt of the $2.2m in net debt sale proceeds. Its preferred profitability metric is Cash PBT, which removes the unrealised credit losses of the IFRS Expected Credit Loss (ECL) provision and recognises only the realised losses incurred in the period.
The company delivered Cash PBT of $10.7m and statutory PBT of $6.6m. Statutory PBT was struck after deducting ECL provision expense ($3.1m), share-based payments ($0.9m) and depreciation and amortisation excluding leases ($0.1m).
A new government tailwind — NSW Home Energy Saver
During the quarter, Plenti was appointed as an inaugural finance provider for the NSW Government’s $480 million Home Energy Saver programme. The appointment aligns directly with the momentum in the renewable energy vertical, its fastest-growing segment.
Renewable energy originations of $86m were already supported by a combination of Federal and State incentive programmes, including the WA Residential Battery Scheme.
FY27 objectives and outlook
For the year to 31 March 2027, Plenti stated it remains on track to deliver its disclosed objectives:
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Growth: to build on origination momentum and exit FY27 having achieved a $600m/quarter run-rate.
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Profitability: to continue driving meaningful Cash PBT growth.
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Efficiency: to bring cost-to-net-margin below 55%.
With a record start to originations, costs described as well controlled, and credit performance remaining stable, the company positioned the quarter as a supportive opening for its FY27 targets. All figures in the release are preliminary and unaudited, and were approved by the Plenti Board of Directors.
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