Plenti Group (ASX:PLT) logs $2.07B Q3 FY24 loan growth, $54.4M revenue surge

Plenti Group reported strong operational performance for the quarter ended Dec. 31, 2023.

The loan portfolio increased to $2.07 billion, marking a 24% rise from the prior corresponding period and a 4% increase from the previous quarter.

Loan originations totalled $291 million, slightly below the year-ago period but consistent with the prior quarter, reflecting a focus on loan profitability.

Quarterly revenue reached $54.4 million, a 46% increase from the prior year, driven by loan portfolio growth and a higher interest rate environment.

The strategic partnership with National Australia Bank (ASX:NAB) is progressing well, with the first product set to launch in the second quarter.