Perbanas Warns of Risks Behind PNM's Plan to Become an SME Bank

JAKARTA, KOMPAS.com - The National Banking Association (Perbanas) has warned of several risks in the plan to transform PT Permodalan Nasional Madani (PNM) into a bank dedicated to SMEs. Perbanas Chief Economist Dzulfian Syafrian considers the goal of broadening SME financing access to be important. However, the approach taken must be correct to avoid complicating the existing ecosystem. “It would be better if the government optimised the existing infrastructure rather than building a new architecture that risks causing overlaps, inefficiencies, and ineffectiveness,” he stated in a written release on Thursday (9/4/2026). The establishment or transformation of a new institution is seen as potentially adding layers of bureaucracy. This situation risks making credit distribution less efficient. The capacity of each institution to disburse credit also varies. Dzulfian cited PT Bank Rakyat Indonesia (Persero) Tbk or BRI, which has extensive experience in the micro segment, as an example. BRI is considered to have the capacity to recognise the characteristics of small customers and provide business support. “(Such experience as BRI’s) cannot be formed instantly merely through institutional changes. Therefore, the SME segment requires expertise that is not trivial, even among banks themselves,” he said. Subsidised funds are one-off in nature. Credit must be repaid by the debtor. This condition demands strict risk management. “SME credit, including schemes like KUR, is not just about disbursing as much funding as possible, but also about ensuring repayment capacity and business support. If these aspects are weak, the goal of financial inclusion could instead turn into a fiscal burden and systemic financial risk in the future,” he explained.