Updates17 July 20234 minute read

Q1FY24 update: Plenti achieves record loan originations

We're pleased to provide a trading update for Q1FY24, with highlights including the achievement of a $1.9b loan portfolio and a record automotive loan book of $1b.

  • Loan portfolio increased to $1.90 billion, 32% above PCP and 8% above prior quarter 
  • Automotive loan book reached $1 billion milestone 
  • Record quarterly loan originations of $332 million, 15% above PCP and 20% above prior quarter, driven by record renewable energy and record personal lending, combined with a strong recovery in automotive loan originations 
  • Annualised net credit losses of 117 basis points and 90+ day arrears of 49 basis points at quarter end, reflecting the credit strength of Plenti’s loan portfolio 
  • Completed $406 million automotive asset-backed securities (ABS) transaction in June 2023, priced attractively relative to comparable ABS transactions, reflecting strong support from a broad range of investors 
  • Quarterly revenue of $46 million, 51% above PCP