Newsroom
Updates

Plenti Lending Platform: June 2023 Quarterly Data Report

We're pleased to provide the quarterly data report for June regarding the Plenti Lending Platform (PLP) loan book.

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 (refer to Plenti's ASX releases for data in relation to Plenti's entire loan portfolio).

PLP lending statistics at 30 June 2023

Total amount lent$1,096,433,519
PLP loan book$185,697,257
Total interest paid earned$95,903,849
Number of loans outstanding15,834
Average outstanding loan amount $11,025
Weighted average remaining term36 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 at 30 June 2023 is set out below.

Provision Fund position at 30 June 2023

Cash in Provision Fund[1]$12,978,029
Expected Provision Fund inflows[2]$509,550
Provision Fund total[3]$13,487,579
Provision Fund total as % of loan book7.7%
Claims made on Provision Fund to date100%
Claims paid by Provision Fund to date100%

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

No items found.