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All Journal Jurnal Manajemen Risiko
Muhammad Ichsan Gifari
IPB University Graduate School
Decision Sciences, Operations Research & Management

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The Effect Of Credit Risk, Liquidity Risk, and Operational Efficiency on The Profitability of PT Bank Mandiri (Persero) Tbk Farhadilla Elsyafira; Muhammad Ichsan Gifari; Timothy Gabe Parhorasan Siallagan
JURNAL MANAJEMEN RISIKO Vol. 7 No. 1 (2026): JUNI
Publisher : Pasca Sarjana UKI

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Abstract

This study aims to analyze the impact of credit risk (NPL), liquidity risk (LDR), and operational efficiency (BOPO) on banking profitability, as proxied by Return on Assets (ROA) and Return on Equity (ROE), at PT Bank Mandiri (Persero) Tbk. The study uses quarterly secondary data for the period 2016Q1–2025Q4 (n=40) sourced from the company’s quarterly financial reports. The analysis technique used is Ordinary Least Squares (OLS) with Newey-West Heteroskedasticity and Autocorrelation Consistent (HAC) standard errors to address violations of the autocorrelation assumption detected through the Breusch-Godfrey test. The results of the study indicate that: (1) NPL has a significant positive effect on ROA (β=0.132; p=0.015) and a significant negative effect on ROE (β=–1.310; p=0.001) ; (2) LDR has a significant positive effect on ROA (β=0.033; p<0.001) but is not significant for ROE; (3) BOPO has a significant negative effect on both ROA and ROE at the 1% significance level. The model explains 94.1% of the variation in ROA and 92.2% of the variation in ROE. These findings imply that operational efficiency is the most dominant determinant of Bank Mandiri’s profitability, while the unique relationship between NPL and ROA reflects the effects of the risk premium and credit restructuring policies during the pandemic era.
Co-Authors Farhadilla Elsyafira Timothy Gabe Parhorasan Siallagan