Jakarta. Financing firm Permodalan Nasional Madani (PNM) took home the Special Award at the recent 2024 Bisnis Indonesia Award (BIA) in Jakarta.

PNM won the "Most Outstanding Microfinance Programs to Empowering Women and Community Development" category. According to PNM business director Prasetya Sayekti, the freshly earned award is expected to become a motivation booster for the company.

According to Prasetya, PNM seeks to empower underprivileged women, among others, by holding basic empowerment programs that include weekly group meetings and basic literacy initiatives. Prasetya added: “Then we have advanced literacy programs in which our empowerment initiatives are of a larger scale and with advanced materials. This empowerment cannot be separated from digital literacy initiatives.”

In 2024, PNM seeks to distribute Rp 74 trillion ($4.5 billion). Prasetya said that PNM could achieve this target, as the company currently has 863,000 groups.

Throughout 2023, PNM and its subsidiaries have recorded positive performance. The company recorded a profit of Rp 1.64 trillion as of Dec. 31, 2023, marking a 66.2 percent year-on-year (yoy) increase versus Rp 992 billion recorded the previous year.  Its interest and sharia income (net) totaled Rp 12.3 trillion, an increase of 20.7 percent yoy compared to Rp 10.2 trillion the previous year. Operating expenses rose by 14.18 percent yoy to Rp 10.6 trillion last year. In terms of equity, the company recorded capital worth Rp 9.06 trillion or an increase of 22 percent yoy compared to the same period the previous year, namely Rp 7.4 trillion. The total liabilities borne by the company reached Rp 41.9 trillion, growing 6.53 percent yoy from Rp 39.4 trillion. PNM recorded total assets worth Rp 51.04 trillion, up by 8.9 percent yoy. PNM also distributed Rp 71.2 trillion as of Dec. 31, 2023.

PNM is an institution that finances and assists underprivileged women in Indonesia through the ultra-micro business sector. PNM not only provides business capital but also provides various training to improve product quality. To date, there are 15.2 million PNM customers across Indonesia.