Our quarterly data report in relation to the Plenti Lending Platform (PLP) loan book and provision fund performance.
Plenti Group Limited (ASX:PLT) (Plenti or the Company) is pleased to provide its quarterly data report in relation to the Plenti Lending Platform (PLP) loan book.
The PLP is a registered managed investment scheme with over 23,500 members (who are predominantly retail investors) and is one of the diverse funding platforms utilised by the Company to fund loans. To provide members who invest via the PLP with transparency as to the credit characteristics of the PLP loan book, Plenti releases data about the portfolio. This data is released on a quarterly basis to members via the Plenti website, as well as the ASX so it is available for Plenti shareholders.
Shareholders in Plenti should be aware that the data provided only relates to the PLP and does not provide a complete picture of Plenti’s total loan portfolio. In particular, it does not include data on loans funded via warehouse structures and the Plenti Wholesale Lending Platform.
Shareholders should refer to the quarterly trading update released to the ASX on 12 April 2021 for data in relation to the performance of the total Plenti loan portfolio.
PLP lending statistics as at 31 March 2021
Total amount lent1
Total principal repaid
PLP loan book
Number of loans outstanding
Average outstanding loan amount
Weighted average remaining term
An important feature of the PLP is the Provision Fund. The Provision Fund comprises cash held on trust for the benefit of members who invest via the PLP and is designed to help protect them from loss in the event a borrower misses a payment or defaults. Information on the Provision Fund position as at 30 December 2020 is set out below.
Cash in Provision Fund1
Expected Provision Fund inflows2
Provision Fund buffer3
Estimated Provision Fund coverage ratio4
Claims made on Provision Fund to date
100% of late payments and defaults
Claims paid by Provision Fund to date
100% of total claim value
PLP loan and borrower characteristics as at 31 March 2020 (based on principal outstanding)
Loan book update
Investors can download the PLP loan book via the below link.
The updated loan book listing contains information about every loan originated through the PLP since our launch until 31 March 2020.
We believe that transparency is the cornerstone of consumer lending. Open data allows those investing in consumer loans and applying for personal loans to make informed decisions, ensuring consumer lenders like Plenti are accountable for the quality of loans they facilitate.
Data in the loan book listing includes loan amounts, interest rates, loan purpose and anonymised information related to borrowers such as age, gender, state/territory of residence, employment status, income bracket and homeownership status.
Written byGlenn Riddell
Glenn co-founded Plenti in May 2014 and has broad experience in building disruptive finance platforms, and in the retail lending industry since 2007.