ASX-listed fintech Plenti sees growth across the board, new CEO commences

ASX-listed Plenti Group have provided a trading update for the quarter ended 30 June 2024 (1Q25), with growth being achieved across the board.

Plenti’s loan portfolio increased to $2.2 billion, 3% above prior quarter and its loan originations are now $303 million, 6% above prior quarter.

Quarterly revenue of $60.9 million is up 32% above PCP, driven by loan portfolio growth and increased customer interest rates.

Commenting on the quarter, Miles Drury, Plenti’s Chief Financial Officer, said, “Plenti continues to demonstrate differentiated performances across growth, credit performance and profitability.”

“A particular highlight of the quarter was the phase 1 launch of the ‘NAB powered by Plenti’ car and EV loan, which pleasingly is attracting strong feedback, giving us confidence in its longer-term impact to our business.”

In other news, Adam Bennett commenced as CEO of Plenti yesterday, as per the announcement on 13 June 2024.