Auto loans shift up a gear, offsetting softer renewable lending
Plenti’s total loan book exceeded $3.1 billion in its 2026 financial year, marking a 22% year-on-year gain.
Total loan originations for the year increased by 32% to $1.9 billion, with automobile loans the clear outperformer with a 40% gain to $994 million.
The 'NAB powered by Plenti' car loan product accelerated sharply, with its portfolio growing from $16.7 million to $121 million during the year.
Penti started rolling out its NAB powered by Plenti car and EV loans to NAB customers in late-2024 following a successful pilot with NAB employees. NAB handles marketing, promotion, loan funding, and bears the credit risk, while Plenti provides the loan application experience, credit assessment technology, loan settlement, and ongoing loan and customer management.
NAB powered by Plenti funded 286 EV loans totalling around $12.5 million in the 2026 financial year.
Renewable energy had the lowest annual originations, though its 26% growth rate was solid. It benefited from a step-change in battery demand driven by the Federal Government's Cheaper Home Batteries Program and Plenti's appointment as exclusive administrator of the $337 million Western Australia Residential Battery Scheme.
On the topline, cash profit before tax more than doubled for the strongest financial result in the company's history.
Plenti has over 11,400 accredited broker partners across 17 loan aggregator partners.
