Analysis of the Soundness of Government-owned Islamic Banks Before and After a Merger
Abstract
This paper analyzes the soundness of government-owned Islamic banks before and after a merger. The research variables consist of Risk Profile as measured by Non-Performing Financing (NPF) and Financing to Deposit Ratio (FDR), Good Corporate Governance as measured by Net Open Position (NOP), Earnings as measured by Return on Assets (ROA), Return on Equity (ROE) ) and Operational Efficiency Ratio (OER), and Capital as measured by the Capital Adequacy Ratio (CAR). Three government-owned Islamic banks before merger, namely Bank Rakyat Indonesia (BRI) Sharia, Bank Negara Indonesia (BNI) Sharia, Bank Sharia Mandiri (BSM) and one bank after merger namely Bank Sharia Indonesia (BSI) were selected as research objects. The study uses secondary data for the first quarter of 2019 to the third quarter of 2022. The hypothesis was tested with the Paired Sample T-Test and the Wilcoxon Signed Rank Test. The results show that the ratios of NPF, NOP, ROA, ROE, and OER have significant differences before and after the merger. Meanwhile, the ratios of FDR and CAR have no significant difference before and after the merger. This condition indicates that the ability of Islamic banks to manage FDR and CAR is quite good and remain in the soundness category before and after the merger. This study concludes that some of the soundness ratios of government-owned sharia banks are better after the merger. However, there are two ratios that are not significantly different either before or after the merger. The implication of this research is that the ability of the manager of a government-owned Islamic bank in managing the soundness of a bank greatly determines the sustainability of an Islamic bank. For further research, it is suggested to add the timeframe of the research.
Keywords: risk profile, good corporate governance, earning, capital, merger, government owned Islamic banks
References
[1] Pramana KM, Artini LG. Analisis Tingkat Kesehatan Bank (Pendekatan RGEC) Pada PT. Bank Danamon Indonesia. E-Jurnal Manaj Unud. 2016;5:384.
[2] Ulhaq MZ, Hasanah N. Analisis Kinerja Kode Emiten “BRIS” Sebelum dan Setelah Merger Berdasarkan Metode RGEC dan Islamicity Performance Index (IPI). In: Seminar Nasional Akuntansi dan Manajemen PNJ. 2022. http://prosidingold. pnj.ac.id/index.php/snampnj/article/view/5702%0A
[3] Firdaus BJ, Setyowati DH. Analisis Perbandingan Kinerja Keuangan Bank Umum Syariah Hasil Spin-Off dan Hasil Akuisisi. J Appl Islam Econ Financ. 2020;1(1):233– 245.
[4] Tarigan J, Yenewan S, Natalia G. Merger dan Akuisisi dari Perspektif Strategis dan Kondisi Indonesia (Pendekatan Konsep dan Studi Kasus). J Merger Dan Akuisisi. 2016;1:39–59.
[5] Kalsie A, Singh I. Analysis of post-merger performance of merged entity: A study of select financial sector deals. Int J Account Financ Rev. 2022;10:61–75.
[6] Jawotho, J. S. & W. Analysis of banks’ health before and after consolidated. Budapest Int Res Critics Institute-Journal. 2022;5:7100–7108.
[7] Ahmed S, Talreja S, Shah MA, Asad M. Peeking Beyond profitability S. Effects of merger and acquisition on microeconomic indicators in banking industry. J Bus Adm Manag Sci. 2022;04:31–41.
[8] Borodin A, Ziyadin S, Islyam G, Panaedova G. Impact of mergers and acquisitions on companies’ financial performance. J Int Stud. 2020;13(2):34–47.
[9] Ullah N, Nor FM, Seman JA. Impact of mergers and acquisitions on operational performance of islamic banking sector. J Southeast Asian Stud. 2021;9(1):25–36.
[10] Mazimpaka PC, Rusbiana DC. Mergers and acquisitions on financial performance of commercial banks in Rwanda: Case of I&M Bank Ecobank And Bpr Atlas Mara. Int J Sci Res Publ. 2021;11:93–115.
[11] Amatilah FF, Syarief ME, Laksana B. Perbandingan Kinerja Keuangan Sebelum Dan Sesudah Merger Dan Akuisisi Pada Perusahaan Non-Bank Yang Tercatat di BEI Periode 2015. Indones J Econ Manag. 2021;1(2):375–385.
[12] Nasfi, Yulia Marta A. Analisis Tingkat Kesehatan Bank Sebelum dan Sesudah Merger Di Sumatera Barat (Studi Kasus : PT. Bpr Rangkiang Aur Dengan Pt. Bpr Rangkiang Denai). J Menara Ekon. 2020;6:67–77.
[13] Patra, S. K., & Dash A. Mergers and bank performance in India : A case on the State Bank Of India. Srusti Manag Rev. 2019;Xii:75–81.
[14] Endiana ID, Suryandari NN. Opini Going Concern: Ditinjau Dari Agensi Teori Dan Pemicunya [Jurnal Ekon Dan Keuangan]. Ekuitas. 2021;5(2):224–242.
[15] Komariah E. Tingkat Kesehatan Bank Umum Syariah di Indonesia dari Aspek Risk Profile. J Online Insa Akuntan. 2016;1:239–260.
[16] Wigwe C. Mergers and acquisitions. The Nigerian banking industry: A legal perspective. J Commer Contempt Law; 2012. pp. 35–45.
[17] Beams FA, Yusuf AA. Akuntansi Keuangan Lanjutan Di Indonesia (Buku Satu). Salemba Empat; 2000.
[18] Bramantyo Djohanputro MB. Restrukturisasi Perusahaan Berbasis Nilai. Jakarta: Pmm Management; 2004.
[19] bi.go.id. Peraturan Bank Indonesia Nomor: 13/1/PBI/2011 Tentang Penilaian Tingkat Kesehatan Bank Umum. Jakarta: Bank Indonesia.
[20] Insaniyati N, Purwanto A. Analisis Tingkat Kesehatan Bank Konvensional Dan Bank Syariah Dengan Menggunakan Metode Rgec (Risk Profile, Good Corporate Governance, Earnings, Capital). Diponegoro J Account. 2023;12:1–12.
[21] Agustin RD, Widhiastuti RN. Dampak Merger Dan Akuisisi Pada Kinerja Keuangan (Studi Kasus Sektor Perbankan Di Indonesia). Remit J Akuntan Keuangan Dan Perbank. 2021;2(2):16–24.
[22] Kusumawardana CZ. Azib, & Sevriana L. Analisis Perbandingan Kinerja Keuangan Perusahaan Sebelum Dan Sesudah Merger dan Akuisisi. Manajerial. 2020;9:31.
[23] Choirunnisa SO, Harjadi D, Komarudin MN. Analisis Perbandingan Tingkat Kesehatan Bank Syariah dan Bank Konvensional dengan Menggunakan Metode Rgec. Trilogi Account Bus Res. 2019;01:100–122.
[24] Ruspita, R. R., Supeni, R. E., & Hafidzi AH. Perbedaan Kinerja Keuangan Sebelum Dan Sesudah Akuisisi (Studi Empiris Pada Pt. Btpn Syariah Tbk. Indonesia). Univ Muhammadiyah Jember.
[25] Pratikto, M. I. S., & Afiq MK. Analisis Tingkat Kesehatan Bank dan Potensi Financial Distress Menggunakan Metode Rgec dan Zmijewski Pada Bank Bni Syariah Tahun 2015-2019. J Ekon Syariah Teor dan Terap. 2021;8:570.
[26] Jaya A, Syarief ME, Laksana B. Perbandingan Kinerja Keuangan pada Bank Woori Saudara Sebelum dan Setelah Merger. Indones J Econ Manag. 2021;1(3):523–531.
[27] Ali K. Analisis Perbandingan Kinerja Keuangan Sebelum dan Sesudah Merger- Akuisisi Pada Perusahaan Yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2015. J Fokus Manaj Bisnis. 2020;9(2):143.