Fintech firm Plenti Group (ASX:PLT) has surpassed its $3 billion loan portfolio target as of January, achieving the strategic milestone well ahead of its March deadline.
The announcement follows a third quarter where the company reported its fifth consecutive record for loan originations, totaling $480 million—a 25% increase over the same period last year.
The company's growth was broad-based across its core lending verticals.
Renewable energy loans led the surge with a 33% year-on-year increase, supported by government battery incentive programs, while automotive and personal lending grew by 29% and 18% respectively.
Despite a brief 50-basis-point spike in market funding costs late in the year, Plenti adjusted its pricing by January to recover margins without dampening customer demand.
Credit quality remained a standout feature of the report. Annualized net losses dropped to 91 basis points, down from 103 last year, reflecting a high-quality "prime" borrower base with an average Equifax credit score of 849.
CEO Adam Bennett praised the team's "hard work and technical capabilities" in reaching the $3 billion goal early.
The update was slightly tempered by the resignation of CFO Miles Drury, who departs after six years; however, the company remains on track for significant profitability growth as it enters the final stretch of FY26.