Plenti achieves another record quarter

Plenti achieves another record quarter

Fintech consumer lender Plenti has achieved another record quarter, posting loan originations of $130.9m for the quarter ending 31 December 2020 – a 58% rise from the prior corresponding period and a 22% jump from the previous quarter.

The result also marked the sixth straight time the non-bank lender attained record monthly loan originations.

Over the quarter, Plenti’s total loan portfolio increased to $508m, which was 46% above prospectus forecast.

The lender was also able to maintain a solid credit performance during the quarter, with annualized net losses of 0.82%. Ninety-day arrears dropped to 0.32% of its loan portfolio, down from 0.42% from the quarter prior.

“Plenti’s market leading loan products and innovative technology-led customer experiences continue to resonate with our customers and distribution partners, driving a record $130.9m in loan originations for the quarter,” said Daniel Foggo, chief executive officer of Plenti.

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