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Jakarta Post

Growing economy lifts micro-credit

  • Mariel Grazella

    The Jakarta Post

Jakarta   /   Wed, March 13 2013   /  03:58 pm

State-owned investment firm PT Permodalan Nasional Madani (PNM) in its 2012 year-end financial report, has credited its 45.9 percent year-on-year profit jump to the growing economy and its affect on micro-businesses and their demand for micro-credit.

In the report, the company announced that its revenues rose by 30.7 percent year-on-year to Rp 860.5 billion (US$88.6 million) from Rp 658.3 billion. This pulled up last year’s annual profit to Rp 70.3 billion, an increase from the Rp 48.2 billion made in 2011.

Likewise, net profits climbed 33.5 percent to Rp 41.5 billion year-on-year from Rp 31.1 billion collected throughout 2011.

Parman Nataatmadja, president director of PNM, attributed the growth in its top line and bottom line numbers to proceeds flowing from the firm’s Micro-Credit Service Unit (ULaMM).

This unit, which disburses mic...