Updates17 January 20235 minute read

Plenti continues to deliver profitable growth in Q3 FY23

Plenti Group Limited (Plenti) provides this trading update for the quarter ended 31 December 2022 (3Q23).

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  • Loan portfolio increased to $1.67 billion, 51% above PCP and 8% above prior quarter 
  • Strong quarterly loan originations of $297 million, up 10% on prior quarter 
  • Increased net interest margins on new loan originations 
  • Strong credit performance with annualised net credit losses of 69 basis points and 90+ day arrears of 35 basis points at period end 
  • Substantial retail investor platform enhancements, including the reshaping of investment markets and the introduction of a new investment market to provide exposure to Plenti ABS notes 
  • Sale of certain written-off or defaulted loans executed, with the financial benefit to be recognised in 4Q23 
  • Revenue of $37.4 million, positive Cash NPAT in the quarter and remain on-track to meet 2H23 objectives