A strong quarter, with $5.5 million in unaudited Cash NPAT for 1H25, marking a massive 260% increase compared to the prior period. The loan portfolio now sits at $2.28 billion, up 14% year-on-year and 3% over the previous quarter. Impressive growth across all lending segments, especially in renewable energy, which surged by 28%, and automotive, which climbed 15%. Notably, originations hit $323.3 million, driven by robust demand and the rapid roll-out of the 'NAB powered by Plenti' car loans.
Credit performance continues to shine, with annualised net losses down to 93 basis points, supported by a debt sale, and a drop in 90+ day arrears to 50 basis points—both solid indicators of a well-managed, prime-focused portfolio. The average Equifax credit score ticked up slightly to 838, underscoring the quality of Plenti’s borrowers. The transition to the new CEO, Adam Bennett, appears seamless, with business momentum not only maintained but accelerating. As the fintech scales further towards its $3 billion loan portfolio target, the focus on efficiency remains clear, aiming to bring the cost-to-income ratio below 24%. Strong foundations and consistent performance suggest that Plenti is well-positioned to keep growing profitably.
PLT Price at posting:
80.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)