The Influence of Credit Risk Level, Liquidity Risk on Profitability with Operational Efficiency Level as an Intervening Variable (Case Study on Conventional Commercial Banks KBMI 3 and KBMI 4 Listed on the IDX in 2021-2024)

Julia Hartaty Damanik

doi:10.55927/fjmr.v4i4.155

Authors

Julia Hartaty Damanik Perbanas Institute

DOI:

https://doi.org/10.55927/fjmr.v4i4.155

Keywords:

Credit Risk, Liquidity Risk, Profitability, Operational Efficiency Level

Abstract

The goal of this study is to assess the impact of credit risk and liquidity risk on profitability with the level of operational efficiency as an intervening variable, at Conventional Commercial Banks Bank Group Based on Core Capital3 and Bank Group Based on Core Capital4 listed on the IDX in 2021-2024. Data obtained from secondary data from annual reports of financial institution companies listed in 2021-2024. This research method uses the SEM-PLS 4.0 analysis technique. This study's hypothesis is based on past research and a variety of supporting theories. The findings of this study show that credit risk (gross and net NPL) has no meaningful effect on profitability. Credit risk (gross NPL) has a positive and large impact on operational efficiency, whereas net NPL has no meaningful effect. Liquidity risk has no substantial effect on profitability, but it does have a positive and considerable impact on operational efficiency. The level of operational efficiency has a negative and significant effect on profitability. The level of operational efficiency has a negative and considerable mediating influence on profitability of both credit risk (gross NPL) and liquidity risk. However, operational efficiency has no substantial effect on profitability when compared to credit risk (net NPL).

References

Abbas, F., Iqbal, S., & Aziz, B. (2019). The impact of bank capital, bank liquidity and credit risk on profitability in post crisis period:‎ A comparative study of US and Asia. Cogent Economics and Finance, 7(1). https://doi.org/10.1080/23322039.2019.1605683

Abdelaziz, H., Rim, B., & Helmi, H. (2022). The Interactional Relationships Between Credit Risk, Liquidity Risk and Bank Profitability in MENA Region. Global Business Review, 23(3). https://doi.org/10.1177/0972150919879304

Agustini, N. L. P. B., Wiagustini, N. L. P., & Purbawangsa, I. B. A. (2017). Pengaruh Kecukupan Modal dan Risiko Kredit terhadap Profitabilitas: Likuiditas sebagai pemediasi. E-Jurnal Ekonomi Dan Bisnis Universitas Udayana, 6.6.

Aji, I. K., & Manda, G. suria. (2021). Pengaruh Risiko Kredit Dan Risiko Likuiditas Terhadap Profitabilitas Pada Bank BUMN (Vol. 4, Issue 1). https://ejournal.stiedewantara.ac.id/index.php/JAD/issue/view/59

Ambarawati, I. G. A. D., & Abundanti, N. (2018). Pengaruh Capital Adequacy Ratio, Non Performing Loan, Loan to Deposit Ratio terhadap Return on Asset. 7(5), 2410–2441. https://doi.org/10.24843/EJMUNUD.2018.v7.i05.p04

Anggraini, C. N., Kosim, B., & Agusria, L. (2022). Pengaruh Tingkat Kecukupan Modal, Tingkat Likuiditas, dan Efisiensi Operasional terhadap Profitabiltas Bank Konvensional dengan Risiko Kredit sebagai Variabel Moderasi. Jurnal Kompetitif, 11(1). http://www.univ-tridinanti.ac.id/ejournal/index.php/ekonomi/index

Anthony, R. N., & Govindarajan, V. (2012). Management Control System. 11, 381–401. https://doi.org/10.1016/j.pacfin.2015.02.008

Asysidiq, K. M., & Sudiyatno, B. (2022). Pengaruh CAR, NPL, LDR, GDP dan Inflasi Terhadap ROA Pada Bank Umum Swasta Nasional Devisa yang Terdaftar di Bursa Efek Indonesia Periode 2017-2021. 7(2), 66–84. https://doi.org/10.37531/mirai.v7i2.2014

Bintoro, M. I., & Rahmadhani, F. (2021). The Influence of Capital Adequacy, Credit Risk, Liquidity, Operational Cost, Income Diversification, Firm Size and Ownership Structure on the Profitability of Bank. Proceedings of the 4th International Conference on Sustainable Innovation 2020-Accounting and Management (ICoSIAMS 2020), 176. https://doi.org/10.2991/aer.k.210121.018

Bordeleau, É., & Graham, C. (2010). The Impact of Liquidity on Bank Profitability.

Cheng, L., Nsiah, T. K., Ofori, C., & Ayisi, A. L. (2020). Credit risk, operational risk, liquidity risk on profitability. A study on South Africa commercial banks. A PLS-SEM Analysis. Revista Argentina de Clínica Psicológica, 29(5), 5.

Chin, W. W. (1998). The partial least squares approach to structural equation modelling. In Marcoulides G. A. (Ed.). In Modern Methods for Business Research (Vol. 295, Issue 2).

Choerudin, A., Yuniatun, E., & Kusdiasmo, B. (2016). Pengaruh Non Performing Loan (NPL) dan Loan to Deposit Ratio (LDR) terhadap Return On Asset (ROA) dengan Capital Adequacy Ratio (CAR) sebagai Variabel Intervening (Studi Pada Bank Umum Yang Terdaftar Di BEI Periode Tahun 2012-2015) (Vol. 2, Issue 2).

Claudia M, & Yusbardini. (2022). Pengaruh Manajemen Risiko dan Manajeman Modal Kerja bank BUMN yang terdaftar dalam BEI. Jurnal Manajerial Dan Kewirausahaan, 4(3).

Dang, V. D. (2019). The risk-return trade-off of liquidity positions: Evidence from Vietnamese banking system. International Journal of Monetary Economics and Finance, 12(5). https://doi.org/10.1504/IJMEF.2019.102954

Duan, Y., & Niu, J. (2020). Liquidity creation and bank profitability. North American Journal of Economics and Finance, 54. https://doi.org/10.1016/j.najef.2020.101250

Dwinanda, I. Z., & Sulistyowati, C. (2021). The Effect of Credit Risk and Liquidity Risk on Bank Stability. Jurnal Ilmu Ekonomi Terapan, 6(2), 255. https://doi.org/10.20473/jiet.v6i2.31144

Eltweri, A., Sawan, N., Al-Hajaya, K., & Badri, Z. (2024). The Influence of Liquidity Risk on Financial Performance: A Study of the UK’s Largest Commercial Banks. Journal of Risk and Financial Management, 17(12). https://doi.org/10.3390/jrfm17120580

Fatimah, I. N., & Kusumah, W. R. (2018). the Impact of Ability To Channel Funds and Non-Performing Loan on Profitability of Listed Banks on Indonesia Stock Exchange. International Journal of Education and Research, 6(12).

Gadzo, S. G., Kportorgbi, H. K., & Gatsi, J. G. (2019). Credit risk and operational risk on financial performance of universal banks in Ghana: A partial least squared structural equation model (PLS SEM) approach. Cogent Economics & Finance, 7(1), 1589406.

Hair, J. F., Ringle, C. M., & Sarstedt, M. (2011). PLS-SEM: Indeed a silver bullet. Journal of Marketing Theory and Practice, 19(2). https://doi.org/10.2753/MTP1069-6679190202

Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. In European Business Review (Vol. 31, Issue 1). https://doi.org/10.1108/EBR-11-2018-0203

Haris, M., Yao, H. X., & Fatima, H. (2024). The impact of liquidity risk and credit risk on bank profitability during COVID-19. PLoS ONE, 19(9). https://doi.org/10.1371/journal.pone.0308356

Hasmiana, Madris, & Pintor, S. (2022). The Effect of Financial Risk, Capital Structure, Banking Liquidity on Profitability: Operational Efficiency as Intervening Variables in Persero Bank and Private Commercial Banks. www.ijassjournal.com

Hediati, N. D., Hasanuh, N., & Karawang, U. S. (2021). Pengaruh Capital Adequacy Ratio, NonPerforming Loan dan Biaya Operasional Pendapatan Operasional terhadap Return On Assets. Business and Accounting, 4. www.ojk.go.id

Irawan, P., Damayanti, E., Pratama, R. P., Siagian, L. D., & Hanggraeni, D. (2025). Operational Risk and Bank Profitability: Analyzing BOPO and Efficiency Ratios in Indonesia Commercial Banks. Jurnal Pendidikan Indonesia, 6(1), 338.

Jahrotunnupus, N., & Manda, G. S. (2021). Analisis Pengaruh Risiko Kredit, Risiko Pasar dan Risiko Operasional Terhadap Profitabilitas pada Bank Umum BUMN yang Terdaftar di BEI Periode 2013-2020. Eksis: Jurnal Ilmiah Ekonomi Dan Bisnis, 12(2), 157. https://doi.org/10.33087/eksis.v12i2.265

Jefitra. (2018). Pengaruh Konsentrasi Portopolio dan Risiko Kredit Terhadap Profitabilitas pada Bank yang terdaftar di Bursa Efek Indonesia Periode 2010-2015 2020.

Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4). https://doi.org/10.1016/0304-405X(76)90026-X

Jihan Aprilia, & Siti Ragil Handayani. (2018). Pengaruh CAR, BOPO, NPL dan LDR terhadap ROA dan ROE (studi pada Bank Umum Swasta Nasional Devisa Tahun 2012-2016. Jurnal Administrasi Bisnis (JAB), Vol 61, 3.

Kadhim, A. A., kadhim, A. jamal, & Kareem, A. D. (2023). Credit Risks and Capital Risks and their impact on Banking Liquidity, Applied Research in al-Mansour Investment Bank and the Iraqi Investment Bank. Journal of Corporate Finance Management and Banking System, 33. https://doi.org/10.55529/jcfmbs.33.29.38

Kaplan, S., & Garrick, B. J. (1981). On The Quantitative Definition of Risk. Risk Analysis, 1(1), 11–27. https://doi.org/10.1111/j.1539-6924.1981.tb01350.x

Made, N., Uthami, I., Warsa, P., & Ketut Mustanda, I. (2016). Pengaruh CAR, LDR dan NPL terhadap ROA pada sektor perbankan di Bursa Efek Indonesia. 5(5), 2842–2870.

Mambu, O. O., Mangantar, M., & Van Rate, P. (2022). The Effect of Liquidity Risk, Operational Risk and Market Risk on the Profitability of Banking Companies Listed in LQ 45 period 2014-2020. 10, 983–994.

Murtiningrum, W., & Yohanes, F. C. (2024). Analysis of the Impact of CAR, NPL and LDR on ROA in State-Owned Banks Analisa Pengaruh CAR, NPL dan LDR Terhadap ROA pada Bank BUMN (Vol. 6, Issue 1).

Peraturan Menteri Koordinator Bidang Perekonomian Republik Indonesia No. 8 tahun 2019 tanggal 02-01-2020 Tentang Pedoman Pelaksanaan Kredit Usaha Rakyat

Peraturan Otoritas Jasa Keuangan No.11/POJK.03/2020 tanggal 13 Maret 2020 tentang Stimulus Perekonomian Nasional sebagai kebijakan Countercyclical dampak penyebaran corona virus disease 2019

Peraturan Otoritas Jasa Keuangan No.12/POJK.03/2021 tanggal 30 Juli 2021 tentang Bank Umum

Peraturan Otoritas Jasa Keuangan Republik Indonesia No. 15/POJK.03/2017 tanggal 07-04-2017 Tentang Penetapan status dan tindak lanjut pengawasan bank umum.

Permatasari, I., Andriani, S., & Salam, A. (2019). Pengaruh Non Performing Loan (NPL) dan Capital Adequacy Ratio (CAR) terhadap Return On Asset (ROA) pada Bank BUMN yang Terdaftar di Bursa Efek Indonesia. www.kontan.co.id

Prowanta, E. (2025). Best Practice Implementasi Manajemen Risiko ISO 31000:2018). Jakarta: PT Gramedia.

Putri, A. P. J., & Wahyudi, I. (2023). Pengaruh Risiko Kredit, Risiko Likuiditas, Modal Bank dan Efisiensi Operasional terhadap Profitabilitas Bank. 7(3), 2023.

Ramadani, A. (2024). Influence of Credit Risk, Liquidity Risk, Operational Risk, Market Risk and Solvency Risk on Profitability. Jurnal Riset Akuntansi Dan Bisnis Airlangga, 9(2), 144–162. https://doi.org/10.20473/jraba.v9i2.61067

Ramadanti, F., & Setyowati, E. (2022). Pengaruh NPL, LDR, BOPO dan Nim Terhadap Roa Pada PT. Bank Mandiri (Persero) Tbk Tahun 2013-2021). Jurnal Ekombis Review, 10(2), 695–706. https://doi.org/10.37676/ekombis.v10i12

Saleh, I., & Abu Afifa, M. (2020). The effect of credit risk, liquidity risk and bank capital on bank profitability: Evidence from an emerging market. Cogent Economics and Finance, 8(1). https://doi.org/10.1080/23322039.2020.1814509

Simanihuruk, A., Dharmawan Buchdadi, A., & Suryawan Siregar, M. E. (2024). Pengaruh Efisiensi Operasional dan Likuiditas dengan Risiko kredit sebagai moderasi pada Profitabilitas BPR. https://doi.org/10.46306/rev.v4i2

Sudarmanto, E., Astuti, Kato, I., Basmar, E., Simarmata, H. M. P., Yuningsih, Indrawati, Wisnujati, N. S., & Siagian, V. (2021). Manajemen Risiko Perbankan.

Sugiyono, P. D. (2017). Metode penelitian bisnis: pendekatan kuantitatif, kualitatif, kombinasi, dan R&D. Penerbit CV. Alfabeta: Bandung.

Surat Edaran Otoritas Jasa Keuangan Republik Indonesia No. 25/SEOJK.03/2023 tanggal 21-12-2023 Tentang Penerapan Manajemen Risiko

Surat Edaran Otoritas Jasa Keuangan Republik Indonesia No. 9/SEOJK.03/2020 tanggal 30-06-2020 Tentang Transaparansi dan publikasi laporan Bank Umum Konvensional

Syakhrun, M., Amin, A., & Manajemen dan Akuntansi STIEM Bogaya Makassar, D. (2019). Pengaruh CAR, BOPO, NPF dan FDR Terhadap Profitabilitas pada Bank umum Syariah di Indonesia. Bongaya Journal of Research in Management, 2. https://ojs.stiem-bongaya.ac.id/index.php/BJRM

Titman, S., Keown, A. J., & Martin, J. D. (2018). Financial Management Principles and Applications, 14th Global Edition.

Undang-undang nomor 10 tahun 1998 Tentang Perbankan. (1998). Jakarta: Bank Indonesia

Van Horne, J. C., & Wachowicz, J. M. (2009). Fundamental of Financial Management 13th Edition. www.pearsoned.co.uk/wachowicz

Veizi, Z., & Zhuli, B. (2023). Review of theoretical literature: The relationship between credit risk management and bank profitability. International Journal of Advanced Natural Sciences and Engineering Researches, 7(5). https://doi.org/10.59287/ijanser.915

Wayan, N., Capriani, W., & Dana, I. M. (2016). Pengaruh Risiko Kredit Risiko Operasional dan Risiko Likuiditas terhadap Profitabilitas BPT di Kota Denpasar. 5(3), 1486–1512. www.bi.go.id

Yuliana, I. R., & Listari, S. (2021). Pengaruh CAR, FDR, Dan BOPO Terhadap ROA Pada Bank Syariah Di Indonesia. Jurnal Ilmiah Akuntansi Kesatuan, 9(2), 309–334. https://doi.org/10.37641/jiakes.v9i2.870