Updates27 November 20234 minute read

H1FY24 update: Plenti maintains momentum in 1H24

We're proud to deliver our results for 1HFY24, with highlights including the achievement of a $2.0 billion loan portfolio, marking 29% growth above the prior corresponding period.

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  • Closing loan portfolio of $2.0 billion, up 29% on PCP
  • Loan originations of $624 million, up 12% on PCP
  • Half-year revenue of $97 million, up 52% on PCP
  • Strong credit performance, with a 0.99% net loss rate
  • Cash NPAT of $1.5 million, up 10% on PCP 
  • Materially reduced cost-to-income ratio to 29% from 38% in PCP, further evidencing operating leverage inherent in Plenti’s technology-led business model
  • Completed a $406 million automotive asset-backed securities (ABS) transaction, bringing total ABS issuance to over $1.7 billion
  • Delivered enhancements to proprietary technology platform, including improving customer experiences and platform scalability
  • Entered into a strategic partnership with NAB (post period end), helping to accelerate the achievement of Plenti’s scale and profitability ambitions
  • Demonstrated value of retail investor platform’s Notes Market by continuing to provide eligible investors with a higher investment return option, whilst further diversifying Plenti’s ABS funding and releasing corporate capital