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Money
03 Feb 2022
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3 minute read

Plenti Lending Platform: December 2021 Quarterly Data Report

Plenti is pleased to provide its quarterly data report in relation to the Plenti Lending Platform (PLP) loan book.

Shareholders in Plenti should be aware that the data provided in this report only relates to the PLP and does not provide a complete picture of Plenti's total loan portfolio. Shareholders should refer to Plenti's ASX releases for data in relation to the performance of the entire Plenti loan portfolio.

PLP Lending statistics at 31 December 2021
Total amount lent1$871,794,466
Total principal repaid1$657,229,996
PLP loan book$214,564,470
Number of loans outstanding19,774
Average outstanding loan amount$10,851
Weighted average remaining term38 months

1Lending statistics since inception

An important feature of the PLP is the Provision Fund. The Provision Fund comprises cash held on trust for the benefit of members who invest via the PLP and is designed to help protect them from loss in the event a borrower misses a payment or defaults. Information on the Provision Fund position at 31 December 2021 is set out below.

Provision fund at 31 December 2021
Cash in provision fund1$14,151,776
Expected provision fund inflows2$2,769,499
Provision fund buffer3$16,921,275
Estimated Provision Fund coverage ratio4207%
Claims made on Provision Fund to date 100% of late payments & defaults
Claims paid by Provision Fund to date 100% of total claim value

1 Funds currently held as cash at bank
2 Expected Provision Fund inflows represents contracted PLP borrower contributions to the Provision Fund due over the lifetime of outstanding PLP loans, adjusted to reflect expected early repayments and bad debt
3 Provision Fund buffer is the sum of money in the Provision Fund and expected future Provision Fund inflows
4 Provision Fund coverage ratio is calculated as estimated future lifetime losses from the current PLP loan book over the Provision Fund buffer

PLP loan and borrower characteristics at 31 December 2021 (based on principal outstanding)

Further information regarding loans funded via the Plenti Lending Platform can be accessed here.

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Important information*

This information does not constitute financial advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. Any opinions, forecasts or recommendations reflect the judgement and assumptions of Plenti as at the date of publication and may later change without notice.

Acknowledgement of Country

Plenti respects and honours Aboriginal and Torres Strait Islander Elders past, present and future. We acknowledge the stories, traditions and living cultures of Aboriginal and Torres Strait Islander peoples on this land and commit to building a brighter future together.

We recognise the Gadigal people of the Eora Nation, who are the traditional custodians of the land on which Plenti’s Sydney office stands, and the Kaurna people as the traditional owners of the Country where our Adelaide team is located.