Personal loan provider posts record quarter, though credit losses increase
Personal loan provider Plenti’s car loan collaboration with banking major NAB saw a tripling in loan originations on a sequential basis in the fourth quarter of Plenti’s financial year.
The ‘NAB powered by Plenti’ (NPBP) car loan, which was launched in September 2024, contributed $16.7 million to Plenti’s loan portfolio balance.
Plenti said this was “in line” with both companies’ expectations, adding: “Important work was completed in 4Q25 to increase the visibility of the product to NAB customers, with the NPBP car loan made available via the NAB website, NAB banking app and internet banking portal.
“Some initial marketing campaigns were also undertaken in the period with further NAB investment planned in the coming quarter.”
Elsewhere in the results, Plenti clocked a 116-basis-point net loss in its credit performance, marking a year-on-year increase of 14bps. 90-day-plus arrears, however, improved substantially from 58 basis points 58bps to 43bps.
Loan originations across all segments, comprising auto, renewables and personal loans, hit a record of $407 million, marking a 19% year-on-year increase.
Chief executive Adam Bennett (pictured) called it “another outstanding quarter for Plenti”.
The record result “was particularly impressive given that lending was impacted by Cyclone Alfred for part of March” he added. “Combined with ongoing strong credit performance and cost discipline, it’s very pleasing to see our originations and loan book momentum delivering a strong increase in full year cash NPAT (net profit after tax) to $13.8 million and setting us up well for continued profit growth in FY26.”
Plenti attributed the strong loan originations to “rapid loan approvals and efficient settlement processes for brokers and referrers”.
