Plenti Group posts loan originations and portfolio growth in Q4

Plenti Group (ASX:PLT) announced a performance for the quarter ended Dec. 31, 2024, with record loan originations and loan portfolio growth.

The company recorded $383.3 million in loan originations, marking a 32% increase from the previous corresponding period and a 19% rise compared to the last quarter.

The company's loan portfolio reached $2.4 billion, a 16% growth from last year.

Automotive, renewable energy, and personal loans contributed equally to this milestone.

Plenti reported a reduction in its annualised net credit losses to 103 basis points and a decrease in 90+ day arrears to 47 basis points.

CEO Adam Bennett highlighted the execution and technological advancements driving these results.

“Plenti delivered an outstanding quarter, achieving record originations and strong growth in all verticals. The result reflected effective execution across all parts of the business as well as the benefits of our technology-based partnerships,” said Bennett, CEO of Plenti.

The company also completed a $330 million personal and renewable energy ABS transaction, boosting its total 2024 issuance beyond $1.1 billion.

Plenti's ongoing partnership with NAB saw the 'NAB powered by Plenti' car loan contributing $5.6 million to the loan portfolio balance.

Looking ahead, Plenti remains committed to maintaining its growth trajectory, focusing on core business expansion and further partnership developments.

At the time of reporting, Plenti's share price was $0.895.