The Effect of CAR, FDR, Board of Directors, Board of Commissioners, Sharia Supervisory Board, BOPO, and NPF on Return on Assets in Sharia Rural Bank in Indonesia in The Period 2020-2024

nabila; Jeihan

doi:10.14421/xw9c7h12

Authors

Nabila Oktavina, S. E UIN Sunan Kalijaga
Dr. Jeihan Ali Azhar S.Si., M.E.I

DOI:

https://doi.org/10.14421/xw9c7h12

Keywords:

fixed effect model, BPRS, Profitability, return on assets

Abstract

ABSTRACT

Purpose: This research aims to analyze the effect of Capital Adequacy Ratio (CAR), Financing to Deposit Ratio (FDR), Board of Directors, Board of Commissioners, Sharia Supervisory Board, Operating Costs to Operating Income (BOPO), and Non-Performing Financing (NPF) on Return on Assets (ROA) in Sharia Rural Banks (BPRS) in Indonesia during the 2020-2024 period.

Design/methodology/approach: This study employs a quantitative research approach using panel data obtained from 75 Islamic Rural Banks (BPRS) in Indonesia over the period 2020-2024. The data were analyzed using panel data regression with the Fixed Effect Model (FEM).

Findings: The results indicate that CAR has a positive and significant effect on ROA. Meanwhile, BOPO, NPF, and the Board of Directors have a negative and significant effect on ROA. In contrast, FDR, the Board of Commissioners, and the Sharia Supervisory Board do not have a significant effect on ROA. Simultaneously, all independent variables significantly influence ROA.

Theoretical Contribution/Originality: This research contributes to the literature on Islamic rural banking by integrating financial performance indicators and corporate governance variables within a panel data framework. It provides empirical evidence on how capital structure, liquidity management, operational efficiency, financing quality, and governance mechanisms collectively determine profitability in BPRS, particularly during the post-pandemic recovery period.

Research limitation and implication: The limitation of this study lies in its focus on BPRS in Indonesia during the 2020-2024 period, which may limit generalization to other types of Islamic financial institutions. Additionally, the study only examines selected financial and governance variables. Therefore, future research is recommended to include broader macroeconomic variables and longer observation periods. For practical implications, BPRS management should strengthen capital management, improve operational efficiency, control financing risk, and enhance governance effectiveness to improve profitability performance.

Keywords: Return on Assets, BPRS, Profitability, Fixed Effect Model

References

Aisah, N., & Putra, A. (2025). Pengaruh Mekanisme Good Corporate Governance terhadap Kinerja Keuangan. Jurnal Pendidikan Tambusai, 9(2), 25109-25117. https://doi.org/10.31004/jptam.v9i2.30751

Al-Banna, H. (2021). Dasar-Dasar Manajemen Risiko Bank Syariah. Program Studi Perbankan Syariah Fakultas Ekonomi dan Bisnis Islam UIN Sunan Kalijaga Yogyakarta.

Amalia, D., & Diana, N. (2022). Pengaruh BOPO, CAR, dan FDR Terhadap Profitabilitas Bank Bukopin Syariah Periode 2013-2020. Jurnal Ilmiah Ekonomi Islam, 8(1), 1095. https://doi.org/10.29040/jiei.v8i1.4166

Anisa, S. T., & Anwar, S. (2021). Determinan Profitabilitas Bank Umum Syariah Di Indonesia Dengan Tingkat Likuiditas Sebagai Variabel Intervening. JPS (Jurnal Perbankan Syariah), 2(2), 131–149. https://doi.org/10.46367/jps.v2i2.346

Astuti, R. P. (2022). Pengaruh CAR, FDR, NPF, Dan BOPO Terhadap Profitabilitas Perbankan Syariah. Jurnal Ilmiah Ekonomi Islam, 8(3), 3213. https://doi.org/10.29040/jiei.v8i3.6100

Azhar, J. A., & Sanjaya, T. F. (2025). Digitalisasi UMKM Syariah: Peluang Dan Tantangan Ekonomi Islam Di Era 5.0. Jebesh: Journal Of Economics Business Ethic And Science Histories, 3(7), 101–108.

Azizah, S. N. (2024). Analisis Pengaruh CAR, FDR, dan NPF Terhadap Profitabilitas Pada Bank Umum Syariah Di Indonesia. Jurnal Riset Keuangan dan Akuntansi, 10(1). https://doi.org/10.25134/jrka.v10i1.9719

Darmawan, M., Hafizi, M. R., & Geovani, A. (2024). Pengaruh Good Corporate Governance Terhadap Kinerja Keuangan Bank Syariah Di Indonesia. Jurnal Cendekia Keuangan, 3(1), 47. https://doi.org/10.32503/jck.v3i1.4967

Destiani, I. R., Mayasari, I., Tamara, D. A. D., & Setiawan, S. (2023). Pengaruh CAR, NPF, FDR dan BOPO terhadap Profitabilitas BPRS di Indonesia. Journal of Applied Islamic Economics and Finance, 3(2), 356–372. https://doi.org/10.35313/jaief.v3i2.3766

Farizi, F. H. A. (2024). Pengaruh Interest Based Income, Fee Based Income Dan Capital Adequacy Ratio (CAR) Terhadap Return on Assets (ROA). Journal of Accounting, Management, And Islamic Economics (JAMIE), 02(01). https://doi.org/10.35384/jamie.v2i1.557

Farkhani, M. D., Ulhaq, M. Z., & Abdusalam, I. (2024). The Role of BPRS in The Development and Growth of UMKM in Indonesia. Sahmiyya: Jurnal Ekonomi Dan Bisnis, 3(2), 462–469. https://doi.org/10.28918/sahmiyya.v3i2

Firlizda, L. R., Mukhsin, M., & Fatoni, A. (2025). Pengaruh Sharia Compliance Dan Good Corporate Governance Terhadap Profitabilitas Bank Umum Syariah Indonesia Periode 2017-2024. Jurnal Masharif al-Syariah: Jurnal Ekonomi dan Perbankan Syariah, 10(4), 3263–3283.

Fiscal, Y., & Lusiana, L. (2014). Pengaruh Capital Adequacy Ratio (CAR), Loan To Deposit Ratio (LDR), Biaya Operasional Dan Pendapatan Operasional (BOPO) Terhadap Profitabilitas BPR. Jurnal Akuntansi dan Keuangan, 5(2). https://doi.org/10.36448/jak.v5i2.548

Gutawa, I. A., Raflis, R., & Indrayeni. (2025). Pengaruh Dewan Komisaris, Dewan Pengawas Syariah, Dan Struktur Modal Terhadap Kinerja Keuangan Pada perbankan Syariah Periode 2021-2023. Jurnal Akuntansi Keuangan Dan Bisnis, 2(4), 1006–1011. https://doi.org/10.47233/jakbs.v2i4.2364

Halim, S., & Buana, M. T. L. (2021). The Influence of Non-Performed Financing (NPF), Operational Costs, Financing to Deposit Ratio (FDR) and Net Operating Margin to Return on Assets at Indonesian Sharia Commercial Banks. Falah: Jurnal Ekonomi Syariah, 6(2), 44–59. https://doi.org/10.22219/jes.v6i1.16179

Hartati, N. (2020). Pengaruh Dewan Komisaris, Komite Audit dan Kepemilikan Institusional Terhadap Kinerja Keuangan Perusahaan. EKOMABIS: Jurnal Ekonomi Manajemen Bisnis, 1(02), 175–184. https://doi.org/10.37366/ekomabis.v1i02.72

Hasan, N. I., & Reswanty, R. R. A. (2021). Pengaruh FDR, NPF, CAR Dan BOPO Terhadap ROA Pada Bank Pembiayaan Rakyat Syariah (BPRS). Jurnal Ekonomi Rabbani, 1(2), 145–157. https://doi.org/10.53566/jer.v1i2.30

Hasim, F., Fitri, H., Khomsatun, S., & Ersyafdi, I. R. (2025). Determinasi Kinerja Keuangan Perbankan Syariah: Pendekatan Keuangan dan Non-Keuangan. Solusi, 23(4). https://doi.org/10.26623/slsi.v23i4.12935

Hosen, M. N., Muhari, S., & Costner Kardius, K. (2021). The Effects of Productivity and Liquidity on the Profitability of Islamic Banks in Indonesia. Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah, 13(2). https://doi.org/10.15408/aiq.v13i2.22585

Jensen, C., & Meckling, H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics.

Kartika, I., & Azis, M. T. (2025). Pengaruh Penerapan Good Corporate Governance Terhadap Kinerja Keuangan Perbankan Syariah Di Indonesia. Jurnal Ekonomi Bisnis, Manajemen Dan Akuntansi, 4(2), 565–596. https://doi.org/10.61930/jebmak.v4i2.1203

Kurniawan, A., & Susan, M. (2020). Analisis Pengaruh Karakteristik Dewan Komisaris Terhadap Profitabilitas Sektor Iut Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Ilmiah MEA (Manajemen, Ekonomi, dan Akuntansi), 4(3).

La Difa, C. G., Setyowati, D. H., & Ruhadi, R. (2022). Pengaruh FDR, NPF, CAR, dan BOPO Terhadap Profitabilitas Bank Umum Syariah di Indonesia. Journal of Applied Islamic Economics and Finance, 2(2), 333–341. https://doi.org/10.35313/jaief.v2i2.2972

Muarief, R., Setiyawan, A. D., Priyanto, & Ari, D. (2024). The Effect of Firm Size and FDR on ROA Through BOPO as an Intervening Variable at Islamic People’s Economic Banks (BPRS) in Indonesia. Indonesian Journal of Banking and Financial Technology (FINTECH), 2(2), 147–168. https://doi.org/10.55927/fintech.v2i2.9483

Mubarokah, N., & Umiyati. (2020). Financing Distribution, Financing to Deposit Ratio (FDR) and Non Performing Financing (NPF) on Profitability of the Islamic Rural Banks in Banten Province. Jurnal Ekonomi dan Perbankan Syariah, 8(2). https://doi.org/10.46899/jeps.v8i2.197

Nasution, Z. S., & Nasution, N. A. F. (2024). Non Performing Financing (NPF) in Islamic Banking in Indonesia. Ekombis Review: Jurnal Ilmiah Ekonomi Dan Bisnis, 12(2), 2363–2366. https://doi.org/10.37676/ekombis.v12i2

Nugroho, W., Silaen, M., & Parhusip, A. (2024). Optimalisasi Return on Asset (ROA) Dan Return on Equity (ROE) Untuk Meningkatkan Daya Saing Perbankan Di Bursa Saham. Jurnal Ilmu Pendidikan, 1. https://doi.org/10.37567/cosmos.v1i4.153

Nurmasari, D. D. (2022). Pengaruh CAR, FDR, DPK dan BOPO terhadap Profitabilitas BPRS di Indonesia. Review of Applied Accounting Research (RAAR), 2(2), 233. https://doi.org/10.30595/raar.v2i2.15151

Pangestu, R. D., & Santoso, S. B. (2021). Pengaruh Dewan Komisaris, Dewan Pengawas Syariah, Financing to Deposit Ratio (FDR), Dan Ukuran Perusahaan Terhadap Profitabilitas. Review of Applied Accounting Research (RAAR), 1(2), 27. https://doi.org/10.30595/raar.v1i2.11865

Pratama, A., Iqbal, M., & Leon, F. M. (2025). The Impact of Corporate Governance on Financial Performance of Indonesian Banks. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 8(2), 5341–5357. https://doi.org/10.31538/iijse.v8i2.6291

Putri, N. P. S. W., & Dana, I. M. (2018). Pengaruh NPL, Likuiditas, Dan Rentabilitas Terhadap CAR Pada BPR Konvensional Skala Nasional Di Indonesia. E-Jurnal Manajemen Universitas Udayana, 7(4), 1862. https://doi.org/10.24843/EJMUNUD.2018.v07.i04.p06

Putri, P. S. W., & Anggara, I. W. G. W. (2022). Pengaruh Profitabilitas, Likuiditas Dan Solvabilitas Terhadap Kebijakan Dividen (Studi pada Perusahaan Indeks Kompas 100 di Bursa Efek Indonesia Tahun 2019-2021). EKONOMIKA 45 : Jurnal Ilmiah Manajemen, Ekonomi Bisnis, Kewirausahaan, 9(2), 301–314. https://doi.org/10.30640/ekonomika45.v9i2.805

Rosiana, A., & Mahardhika, A. S. (2020). Pengaruh Good Corporate Governance Dan Intellectual Capital Terhadap Kinerja Keuangan. Jurnal SIKAP (Sistem Informasi, Keuangan, Auditing Dan Perpajakan), 5(1), 76–89. https://doi.org/10.32897/jsikap.v5i1.332

Safira, A., Sopingi, I., & Musfiroh, A. (2024). Pengaruh BOPO Dan NPF Terhadap Profitability (ROA) Di Perbankan Syariah Indonesia. TIJAROTANA : Jurnal Ekonomi dan Bisnis Syariah, 5(01).

Saleh, I. (2021). Pengaruh Kinerja Keuangan Dan Inflasi Terhadap Return on Asset Pada Bank Umum Syariah Di Indonesia. (JPS) Jurnal Perbankan Syariah, 2(2). https://doi.org/10.46367/jps.v2i2.369

Sari, R. M., Aulia, F. U., Anami, I. N., & Salsabila, A. (2021). Pengaruh Pembiayaan Ijarah, Non-Performing Financing Dan Financing to Deposit Ratio Terhadap Return on Assets Pada Unit Usaha Syariah Tahun 2018-2020. JPS (Jurnal Perbankan Syariah), 2(1), 12–28. https://doi.org/10.46367/jps.v2i1.286

Sellina, S., Zed, E. Z., & Kartini, T. M. (2025). The Influence of Good Corporate Governance on Financial Performance in Sharia Banking 2019-2023. Review: Journal of Multidisciplinary in Social Sciences, 2(02), 53–67. https://doi.org/10.59422/rjmss.v2i02.771

Subekti, W. A. P., & Wardana, G. K. (2022). Pengaruh CAR, Asset Growth, BOPO, DPK, Pembiayaan, NPF dan FDR Terhadap ROA Bank Umum Syariah. INOBIS: Jurnal Inovasi Bisnis dan Manajemen Indonesia, 5(2), 270–285. https://doi.org/10.31842/jurnalinobis.v5i2.229

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

Yunina, F. (2020). Pengaruh Good Corporate Governance Terhadap Kinerja Keuangan Bank Umum Syariah Tahun 2015-2017. Jurnal Akuntansi Muhammadiyah, 10(1). https://doi.org/10.37598/jam.v10i1.779

Yusrizal, Y., Nazmi, F. P., Eddy, P., Tanjung, A. R., & Haryadi, T. (2025). The Effect of Good Corporate Governance and Capital Structure (DER) on Financial Performance (ROA) on Banking Companies Listed on Idx 2018-2022. Kurs : Jurnal Akuntansi, Kewirausahaan Dan Bisnis, 9(2), 161. https://doi.org/10.35145/kurs.v9i2.4755

Zaelina, F., & Sholekhah, R. (2025). Determinants of Liquidity in Islamic Banking: A VECM Analysis of Bank Muamalat (2008–2024). Journal of Business Management and Islamic Banking, 4, 087–102. https://doi.org/10.14421/jbmib.2025.0401-06