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Updates
14 Apr 2021
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4 minute read

Provision Fund and Loan Book Update: Q4 FY21

Our quarterly data report in relation to the Plenti Lending Platform (PLP) loan book and provision fund performance.

Plenti Group Limited (ASX:PLT) (Plenti or the Company) is pleased to provide its quarterly data report in relation to the Plenti Lending Platform (PLP) loan book.

The PLP is a registered managed investment scheme with over 23,500 members (who are predominantly retail investors) and is one of the diverse funding platforms utilised by the Company to fund loans. To provide members who invest via the PLP with transparency as to the credit characteristics of the PLP loan book, Plenti releases data about the portfolio. This data is released on a quarterly basis to members via the Plenti website, as well as the ASX so it is available for Plenti shareholders.

Shareholders in Plenti should be aware that the data provided only relates to the PLP and does not provide a complete picture of Plenti's total loan portfolio. In particular, it does not include data on loans funded via warehouse structures and the Plenti Wholesale Lending Platform.

Shareholders should refer to the quarterly trading update released to the ASX on 12 April 2021 for data in relation to the performance of the total Plenti loan portfolio.

PLP lending statistics as at 31 March 2021

Lending StatisticsTotal
Total amount lent1$819,336,112
Total principal repaid$536,495,742
PLP loan book$282,840,371
Number of loans outstanding25,525
Average outstanding loan amount$11,081
Weighted average remaining term42 months

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 as at 30 December 2020 is set out below.

Cash in Provision Fund1$13,978,688
Expected Provision Fund inflows2$6,193,570
Provision Fund buffer3$20,261,361
Estimated Provision Fund coverage ratio4190%
Claims made on Provision Fund to date100% of late payments and defaults
Claims paid by Provision Fund to date100% of total claim value

PLP loan and borrower characteristics as at 31 March 2020 (based on principal outstanding)

No items found.

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.