Plenti Group Reports Record $536 Million in Loan Originations and Maintains Strong Credit Quality in Q1 FY27

Record Loan Originations Across Automotive, Renewable Energy, and Personal Lending Propel Growth

In Q1 FY27, Plenti delivered $536 million in loan originations, a substantial increase across all three lending verticals. Automotive lending, Plenti’s largest segment, reached $281 million in originations—a 23% rise year-over-year and 12% quarter-over-quarter. Growth was fueled by both consumer and commercial lending, with the NAB powered by Plenti (NPBP) product increasing its daily origination run-rate by 35% over the prior quarter and expanding its portfolio to $153 million.

Renewable energy loans hit a record $86 million, up 77% year-over-year and 27% quarter-over-quarter, supported by federal and state government incentives, notably the Western Australia Residential Battery Scheme, which processed over 9,900 rebates during the quarter. Personal loan originations also set a new record at $168 million, increasing 5% year-over-year and 7% quarter-over-quarter, driven by strong broker and direct channel demand alongside technology enhancements boosting repeat and cross-sell customer growth.

June 2026 Monthly Record of $221 Million Highlights Operational Strength and Market Demand

June 2026 marked an exceptional month for Plenti with $221 million in loan originations, a 39% increase from June 2025 and 28% above the previous monthly record set in May 2026. This milestone underscores the company’s ability to scale operations while maintaining high service and operational standards. CEO Adam Bennett noted that investments made in the latter half of FY26 enabled this record volume without compromising customer experience.

Seasonal demand typically strengthens before the financial year-end, especially in automotive lending. While April originations were impacted by public holidays, demand rebounded strongly in May and June, with June surpassing May by 28%. This steady month-to-month growth indicates sustained operational momentum beyond seasonal effects and suggests capacity for further expansion if market conditions remain favorable.

Loan Portfolio Grows to $3.3 Billion, Reflecting Consistent Expansion

As of 30 June 2026, Plenti’s total loan portfolio reached $3.3 billion, up 23% year-over-year and 6% quarter-over-quarter. This steady growth trajectory extends from $2.21 billion in June 2024, highlighting sustained organic expansion. The portfolio is well diversified across automotive, renewable energy, and personal lending, with no individual exposure exceeding $300,000, demonstrating prudent risk management.

The NAB powered by Plenti portfolio grew 26% quarter-over-quarter to $153 million, with a 35% increase in daily origination run-rate, signaling accelerating momentum within this partnership channel. This diversification and granularity position Plenti to effectively manage credit risk and pursue multiple growth avenues.

Appointment as NSW Government Home Energy Saver Finance Provider Expands Market Access

Plenti was named an inaugural finance provider for the NSW Government’s $480 million Home Energy Saver program, marking a strategic expansion into government-backed lending. This recognition underscores Plenti’s robust technology platform, credit expertise, and operational reliability. The program supports household transitions to clean energy, with financing playing a key role in accelerating uptake. Plenti’s involvement positions it to capture a share of the lending volume generated by this initiative.

This appointment validates Plenti’s renewable energy lending capabilities and scalability across diverse acquisition and funding channels. Government-backed programs typically offer stable origination volumes and strong credit quality, as borrowers are incentivized to maintain good standing. The Home Energy Saver partnership complements Plenti’s 77% year-over-year growth in renewable energy originations during Q1 FY27 and is expected to support ongoing growth in this segment throughout FY27 and beyond.

Net Interest Margins Slightly Compress Amid Shift Toward High-Growth Segments

Net interest margins on new loans decreased slightly to approximately 5.3% from the prior quarter, primarily due to a product mix shift favoring the rapidly growing automotive and renewable energy verticals. Competitive market dynamics and seasonal financial year-end promotions also contributed to this modest margin compression.

The 5.3% margin reflects intense competition, especially in automotive lending, where traditional and fintech lenders vie for market share. Prioritizing origination growth over margin expansion aligns with Plenti’s FY27 goal of $600 million in quarterly originations. Management plans to enhance efficiency and profitability through operating leverage as the portfolio scales, with margin expansion anticipated once growth stabilizes.

Stable Credit Metrics and Low Arrears Confirm Resilience of Prime Borrower Base

Credit performance remained steady in Q1 FY27, with annualised net credit losses at 98 basis points, consistent with 94 basis points in the prior year period and 96 basis points in the previous quarter. The 90+ day arrears ratio was 46 basis points at quarter-end, slightly up from 42 basis points last quarter but down from 49 basis points year-over-year. The weighted average Equifax credit score held firm at 851, reflecting disciplined underwriting and focus on prime borrowers.

The stable credit metrics amid portfolio growth highlight the strength of Plenti’s underwriting and borrower quality. The minor rise in arrears remains within historically low levels and may reflect normal seasonal variations or early loan performance cycles. The company remains vigilant of macroeconomic uncertainties but emphasizes portfolio diversification and granular exposures as key to credit resilience since its 2014 inception.

16% Revenue Growth Driven by Portfolio and Origination Expansion

Plenti reported $84.6 million in revenue for Q1 FY27, a 16% increase year-over-year. This growth results from expanding loan portfolios and higher origination volumes generating upfront fees and interest spreads. The revenue increase, while slightly lower than the 22% origination growth, reflects timing differences since interest income accrues over loan lifetimes. The company did not break down revenue components in the announcement.

This revenue growth, combined with controlled costs and stable credit, enabled positive profitability during the quarter. Continued focus on efficiency and scaling positions Plenti to meet its FY27 profitability targets, with management expecting accelerated profit growth as operating leverage improves.

Cash Profit Before Tax of $10.7 Million Achieved Amid Growth Investments

Plenti recorded a cash profit before tax (Cash PBT) of $10.7 million in Q1 FY27, including $2.2 million net proceeds from a debt sale completed during the quarter. The company regularly executes debt sales and disclosed this due to its material impact. Cash PBT excludes unrealised credit losses under IFRS Expected Credit Loss provisions, focusing on realised credit losses to measure underlying profitability.

Statutory profit before tax was $6.6 million after accounting for $3.1 million in ECL provisions, $0.9 million in share-based payments, and $0.1 million in depreciation and amortisation (excluding leases). The ECL provisioning reflects growth-related accounting requirements, whereas Cash PBT highlights core trading profitability. Achieving positive profitability while investing in growth and maintaining credit quality demonstrates the robustness of Plenti’s business model and scalability.

FY27 Strategic Targets: $600 Million Quarterly Originations and Enhanced Efficiency

Plenti’s FY27 strategy focuses on sustaining loan origination momentum to reach $600 million quarterly by year-end, a 12% increase over current levels. Profitability goals include continued Cash PBT growth beyond the $10.7 million achieved in Q1. Efficiency targets aim to reduce the cost-to-net-margin ratio below 55%, emphasizing operational leverage as the loan portfolio expands. Management reports progress on cost control and stable credit performance, supporting these objectives.

These measurable FY27 goals provide investors with clear benchmarks. Achieving $600 million in quarterly originations would set new lending records and enhance market presence and profitability. The efficiency focus underscores the importance of disciplined cost management alongside growth, positioning Plenti for stronger profitability and scale entering FY28.

Proprietary Technology and Data Analytics Fuel Competitive Edge and Scalability

Plenti’s record origination growth and credit stability stem from its proprietary technology platform and advanced data analytics. Founded in 2014, the company leverages smart technology to deliver faster, fairer loans to creditworthy customers. Its appointment as a finance provider for the NSW Government’s Home Energy Saver program highlights the reliability and scalability of its technology.

The platform enables efficient customer acquisition, rapid decision-making, and precise credit risk assessment, outperforming traditional lenders. Growth from repeat and cross-sell borrowers in the personal loan segment further validates the technology’s effectiveness in identifying quality borrowers. Scaling from $221 million in June monthly originations to a $600 million quarterly target, while maintaining a weighted average Equifax score of 851 and low arrears, demonstrates the platform’s ability to balance growth with credit quality.