Plenti Group (ASX: PLT) has reported a record FY26, surpassing its $3 billion loan portfolio target early and achieving a 117% increase in cash profit before tax to $30.8 million, underpinned by strong origination growth and best-in-history asset-backed security (ABS) pricing.
Cash NPAT also saw significant growth, up 97% to $27.3 million.
The company achieved its $3 billion loan portfolio target in January 2026, ahead of its scheduled March 2026 timeframe.
By 31 March 2026, the total loan portfolio had expanded to $3.1 billion, marking a 22% increase year on year.
Quarterly loan originations for 4Q26 reached a record $475 million, representing a 17% increase on the prior corresponding period, while total loan originations for FY26 rose 32% to $1,868 million.
Strong Funding Outcomes
Plenti successfully completed a $400 million PL & Green ABS 2026-1 transaction.
This achieved a weighted average margin of 1.15%, which is the best pricing to date for any PL & Green transaction and 25 bps tighter than the May 2025 issuance.
The company also reduced its corporate debt during the quarter, repaying $12.5 million.
This brought the drawn corporate facility down to $20 million.
Overall, Plenti has now completed over $4.7 billion in total ABS funding, demonstrating consistent and robust access to capital markets.
Operational Efficiency and Credit Quality
Operational efficiency continued to improve, with the FY26 operating cost-to-net margin falling below the target threshold to 56.7%, reflecting strong cost management alongside growth.
Credit performance remained solid, with annualised net losses for 4Q26 at 96 bps and 90+ day arrears at quarter end of 42 bps.
Both metrics were broadly stable quarter-on-quarter and down from the prior corresponding period, with a weighted average Equifax credit score at quarter end of 850.
The "NAB powered by Plenti" loan portfolio showed strong expansion, growing to $121 million (up 34% quarter-on-quarter), highlighting the success of Plenti's strategic partnerships.
Consistent Growth Trajectory
Plenti has consistently demonstrated a strong growth trajectory over recent periods.
Its 3Q26 update reported a loan portfolio of $2.98 billion at 31 December 2025, with that $3 billion target met in January 2026.
The 1H26 results saw Cash PBT increase by 147% to $14.1 million, while loan originations for the half year surged by 46% to $912 million.
This sustained momentum underscores Plenti's ability to scale.
Past ABS issuances, including a $559 million automotive ABS in November 2025 and a $400 million PL & Green ABS in May 2025, also highlight the company's continuous evolution of its funding strategies to support its expanding loan book.
Plenti Delivers Strong Results
Plenti Group has demonstrated robust performance with record FY26 results, driven by strong loan origination growth and effective funding strategies.
The company's ability to achieve key portfolio targets ahead of schedule and maintain solid credit quality while improving operational efficiency positions it well for continued expansion.
