Updates13 July 20215 minute read

Plenti Q1 Market Update

Plenti Group Limited (ASX:PLT) is pleased to announce its Q1 update for the upcoming financial year.

Plenti delivers another record quarter; reaches $1 billion loan originations run-rate in June

  • Record quarterly loan originations of $216.4 million, 260% above PCP and 26% above prior quarter 
  • Record monthly loan originations of $83.4 million in June, representing a $1 billion annual run-rate 
  • Loan portfolio increased to $757 million, 96% above PCP and 23% above prior quarter 
  • Prime loan portfolio continued to demonstrate a strong credit performance, with annualised credit losses below 75 basis points and 90+ day arrears remaining low at 35 basis points 
  • Automotive warehouse facility increased yesterday by $100 million to $450 million 
  • Automotive warehouse equity requirement materially reduced, releasing funds to support ongoing growth
  • Renewable energy and personal loan warehouse facility increased by $100 million to $200 million
  • Commercial automotive loan offering successfully launched with selected referral partners, approximately doubling Plenti’s addressable market in automotive finance
  1. Growth – reaching a $1 billion loan portfolio by March 2022
  2. Profitability – achieving positive monthly Cash NPAT prior to June 2022, while investing in and achieving strong growth 
  3. Efficiency – driving towards a cost to income ratio of below 35% over the medium term Plenti made strong progress towards achieving each of these priorities during Q1 FY22. 

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Written byTeam Plenti
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