<![CDATA[This study examines the determinants of profitability in Indonesian state-owned banks listed on the Indonesia Stock Exchange during 2014–2024. Profitability, measured by Return on Assets (ROA), is analyzed in relation to credit risk (Non-Performing Loans/NPL), operational efficiency (BOPO), and capital adequacy (CAR) using panel data from four major banks and multiple linear regression. The findings reveal that NPL has a positive and significant effect on ROA, indicating that well-managed credit expansion and risk-based pricing can enhance profitability. Conversely, BOPO shows a negative and significant relationship, confirming that higher operational inefficiency reduces financial performance. Meanwhile, CAR has a positive but insignificant effect, suggesting that capital strength supports stability without directly improving short-term profitability. Overall, the study underscores that operational efficiency and effective credit risk management are the primary drivers of bank profitability. These findings provide updated empirical evidence on internal performance factors in state-owned banks within a developing market context.]]>
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