Plenti

Today is IDAHOBIT Day, the International Day Against LGBTQIA+ Discrimination. At Plenti we are committed to building an inclusive and accepting workplace where everyone feels free to bring their full selves to work. To honour this commitment, we were proud to host events in our Sydney and Adelaide offices featuring team reflections on the journey towards ending LGBTQIA+ discrimination - and the work still needed to achieve full equality and acceptance. Together, we continue to strive for a more inclusive and equitable environment for all. You can find more information on IDAHOBIT Day here: https://lnkd.in/gJfDV_A #IDAHOBIT #Inclusion #Diversity #LGBTQIA

Plenti is thrilled to be the exclusive key delivery partner and finance provider for SA Power Networks’ Energy Masters project in South Australia! Customers can soon access appliance subsidies, simple retail offers, a smart home energy management system, and access finance through Plenti. We’re excited to be part of this unique collaboration alongside partners leading the way in energy. #EnergyMasters #PlentiNews Australian Renewable Energy Agency (ARENA) | SA Power Networks | RACE for 2030 | MAC Trade Services | Clipsal Cortex | Clean Energy Finance Corporation | Amber Electric | EnergyAustralia

We’re pleased to provide our Q4 FY24 trading update. Highlights included: • Loan portfolio increased to $2.14 billion, 21% above PCP and 3% above prior quarter • Loan originations of $286 million, 4% above PCP and broadly in line with prior quarter, reflecting ongoing focus on loan profitability • Annualised net credit losses of 102 basis points, down from 123 basis points in the prior quarter • Commenced testing of the “NAB powered by Plenti” car loan customer experience and NAB system integrations, ahead of expected delivery this quarter We also announced our (unaudited) 2H FY24 Cash NPAT was $4.6m, representing 48% growth on the prior corresponding period. This brings our (unaudited) full-year Cash NPAT to $6.1 million, representing 35% growth on FY23. CEO Daniel Foggo said regarding the update, “Our focus over the quarter was delivering on our full year objectives, whilst laying strong foundations across the technology and operational processes required for the upcoming ‘NAB powered by Plenti’ car loan launch. By delivering on our objectives we have continued to differentiate Plenti compared with other lenders in each of our diverse lending markets.” Full Q4 FY24 update: https://lnkd.in/g-Rq9RVc *Please read important disclaimers on the website

We’re pleased to release our Q3FY24 trading update, where we announced our achievement of a $2.07 billion loan portfolio. Highlights include: • The achievement of a $2.07 billion loan book, 24% above PCP and 4% above the prior quarter • Revenue for the quarter reached $54.4 million, 46% above PCP • 90+ day arrears remained steady at 46 basis points, consistent with the 45 basis points at the end of the prior quarter • Entering into a 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 CEO Daniel Foggo said regarding the update, "We achieved strong operational performance across all areas of our business in our third quarter, which was especially pleasing given the focus and resources applied to the establishment and then implementation of our strategic partnership with NAB. 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.”

We're so proud of our Personal Lending BDMs, Natasha Paszyn and Kelly Mullen, who have been named finalists in their respective states at The Adviser Magazine's Better Business Awards 2024 for the ‘Best Lender BDM (Non-Bank)' category. Great work and best of luck to Natasha, Kelly, and all the award finalists! #betterbusinessawards

Today we're extremely pleased to announce that Plenti and NAB have entered into a strategic partnership, bringing together one of Australia’s most innovative and awarded financial technology companies with one of Australia’s largest and most trusted financial institutions. Under the partnership, Plenti and NAB will: 🚗 launch a “NAB powered by Plenti” car and electric vehicle (EV) loan to NAB’s large personal banking customer base (expected in 1H CY24) 🌿 make select Plenti renewable energy finance solutions available to NAB customers (expected CY2024) 🔭 explore opportunities for the continued expansion of products offered under the strategic partnership over time Plenti and NAB have also entered into an equity investment agreement under which NAB may acquire up to 15% of Plenti’s share capital through placements and market purchases, reflecting the importance of the strategic partnership to both parties. A first of its kind partnership in Australia, this arrangement broadens the consumer finance offerings available to NAB’s customers, whilst helping accelerate the achievement of our own scale and profitability ambitions. Read our full announcement here: https://lnkd.in/emPQp4hw

Today, we're pleased to release our quarterly trading update for Q2 FY24, with highlights including: • Loan portfolio increased to $1.99 billion, 29% above PCP and 5% above prior quarter  • Loan originations of $292 million, 9% above PCP and 12% below last quarter’s record loan originations  • 90+ day arrears of 45 basis points at quarter end, down from 49 basis points at the end of the prior quarter, reflecting the continued credit strength of the loan portfolio  • Annualised net credit losses of 82 basis points, down from 117 basis points in the prior quarter, supported by the sale of certain written-off or defaulted loans  • Quarterly revenue of $51 million, 53% above PCP  • 1H24 Cash NPAT of $1.5 million, stronger than anticipated in prior trading update Commenting on the quarter, Plenti's CEO Daniel Foggo, said:  “Evidencing stability in credit performance was a priority for this quarter, so it’s pleasing to deliver net annualised credit losses of below 1%, further demonstrating Plenti’s capabilities in credit underwriting and loan portfolio management." "We continue to invest in extending our technology-led customer experience and efficiency advantages as we work towards achieving our mission of building Australia’s best lender.” 

Earlier this month, the Australian Energy Market Operator (AEMO) announced that demand for grid energy had dropped significantly, sending the output of coal and grid demand to new lows. 🎉 During the record-breaking period on Sunday, 2 October, AEMO reported that rooftop solar was supplying 51 per cent of total demand nationwide. That same day, Queensland also had record-breaking low demand, while South Australia smashed its record, receiving 99.7% of its total demand from rooftop solar during a half hour period. We're thrilled to watch as Australia makes more progress toward its transition to renewable energy. And we're even more excited to see how our renewable energy products and #GreenConnect platform are helping to make it happen.

Are you used to hitting the road every time school holidays or a long weekend rolls around, but concerned an electric vehicle might not be able to keep up with your adventurous lifestyle? You might be surprised to learn just how expansive Australia's public EV charger network now is — and how many new charging locations are in the works.

We're so proud of our Head of Personal Lending, Nicki Olds, who was named a finalist in The Adviser Magazine's Women in Finance awards for the 'Fintech Leader of the Year' category. We're honoured to take part in the awards as a Gold sponsor, and look forward to the announcement of winners on 10 November. Great work and best of luck to Nicki and all the award finalists! #womeninfinanceawards