Merged into the Ultramicro Holding, How Large are PNM's Assets?

The Indonesian government has officially formed an Ultra-Micro Holding company by merging three state-owned enterprises (SOEs): PT Permodalan Nasional Madani (Persero) or PNM, PT Pegadaian (Persero), and PT Bank Rakyat Indonesia (Persero) Tbk or BRI. With this merger, PNM and Pegadaian have become entities of BRI.

PNM's assets were recorded at Rp 38.15 trillion in January-June 2021. This figure represents a 20.49% increase compared to the end of 2020 (year-to-date/ytd) which was Rp 31.7 trillion.

Meanwhile, PNM's profit was recorded at Rp 315.65 billion in the first half of 2021. This is a 159.49% increase compared to the same period last year, which was Rp 121.6 billion.

Going forward, PNM will focus on empowering micro-business actors. PNM will no longer need to worry about funding. BRI is ready to guarantee the funding instruments issued by PNM.

PNM is a company established by the government on June 1, 1999. This state-owned corporation initially aimed to raise awareness of the strength of the micro, small, medium, and cooperative business sectors after Indonesia was hit by the 1997-1998 economic crisis.