Updates30 January 20244 minute read

Q3FY24 update: Focus on effective execution

We enter 2024 excited about our ability to drive strong operational results in our existing activities, whilst also delivering on exciting new initiatives, most notably the launch of the ‘NAB powered by Plenti’ car loan.

man and woman drive in a car together smiling
  • Loan portfolio increased to $2.07 billion, 24% above PCP and 4% above prior quarter
  • Loan originations of $291 million, 2% below PCP and in line with prior quarter, reflecting ongoing focus on loan profitability
  • Entered into strategic partnership with NAB, initially to provide “NAB powered by Plenti” car/EV loans and to make Plenti renewable energy finance available to NAB customers
  • 90+ day arrears of 46 basis points at quarter end, stable on 45 basis points at the end of the prior quarter
  • Annualised net credit losses of 123 basis points, broadly consistent with recent quarters
  • Quarterly revenue of $54.4 million, 46% above PCP, driven by loan portfolio growth and the higher interest rate environment