Plenti reaches record loan originations of $613M
Key points
- Plenti achieved record quarterly loan originations of $613 million in Q2 FY27, up 29% from the prior corresponding period.
- The company's loan portfolio grew 24% to $3.5 billion, while quarterly revenue reached $89.7 million.
- Annualised net credit losses remained stable at 96 basis points, while 90+ day arrears fell to 42 basis points.
Plenti (ASX:PLT) reported record quarterly loan originations of $613 million for the quarter ended Sept. 30, representing a 29% increase on the prior corresponding period.
This growth surpassed the previous quarter's loan originations of $536 million and drove the total loan portfolio up to $3.5 billion.
The quarterly originations surpassed $600 million for the first time, achieving the business exit run-rate objective earlier than planned in the second quarter.
The loan portfolio powered by National Australia Bank increased 22% quarter-on-quarter to $186 million, while total quarterly revenue rose to $89.7 million.
Following the announcement, the Plenti share price was unchanged at $0.760.
The company maintained stable credit performance with annualised net credit losses at 96 basis points compared to 94 basis points in the prior corresponding period.
Additionally, 90+ day arrears improved during the period, declining to 42 basis points from 46 basis points at the end of the previous quarter.
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