Danantara Discusses PNM Takeover with Purbaya
Chief Operating Officer of BPI Danantara, Dony Oskaria, stated that he has discussed with Finance Minister Purbaya Yudhi Sadewa regarding the plan to transfer the management of PT Permodalan Nasional Madani (PNM). “I also spoke with Mr Purbaya about the mechanisms, risks, and how it will be managed going forward,” Dony said at the DPR building in Senayan on Wednesday, 8 April 2026.
PNM is a subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk, which is currently a member of Danantara Indonesia. Minister Purbaya has asked the DPR’s Commission XI to support the plan to take over PNM as a subsidiary of one of the Ministry of Finance’s Special Mission Vehicles (SMVs).
In the meeting with the state treasurer, Dony said that Danantara also discussed the funding for PNM if it is managed by the Ministry of Finance. This is because PNM’s funding has so far come from banking sources.
He is confident that Purbaya will calculate the amount of funding that needs to be placed in PNM if it operates under the Ministry of Finance, given the relatively large number of service users. “This is being calculated. So in principle, we are the same. Between me and Mr Purbaya, we agree in principle. We are calculating the technicalities; we don’t want to rush,” he said.
The plan for Purbaya to take over PNM emerged during a working meeting with the DPR’s Commission IX on Monday, 6 April 2026. “I am proposing to Danantara to give PNM to us. Give PNM Madani to us, then we will make PNM the distributor of People’s Business Credit,” Purbaya said, as quoted from Antara.
Furthermore, he explained that the plan to acquire PNM is proposed as one solution to smooth the distribution of people’s business credit (KUR). According to Purbaya, there are many reports from UMKM actors who have difficulty accessing these low-cost credit services.
Purbaya also highlighted the high costs involved in distributing KUR through banks. “If KUR goes through banks, we pay interest up to 18 percent. The money disappears (is used to pay interest), around Rp 40 trillion every year.”
If KUR is distributed through PNM as a subsidiary of one of the Ministry of Finance’s SMVs, the Rp 40 trillion in funds could be used as capital to transform the SOE into an SME bank. Purbaya hopes to turn PNM into a large bank with Rp 200 trillion in capital within five years.
In addition to a dedicated bank, Purbaya stated that the Ministry of Finance plans to build an integrated UMKM development ecosystem equipped with advisory teams, marketing teams, training facilities, and credit guarantee institutions. He said that this proposal has also been conveyed to President Prabowo Subianto and has received signals of support.
Nevertheless, Purbaya stated that the Ministry of Finance will continue to refine the plan and discuss it with Danantara to find the best path. “If supported by Commission XI, we will execute it,” he said.