PENGARUH RISIKO KREDIT TERHADAP PROFITABILITAS BANK UMUM MILIK NEGARA DI INDONESIA: PERAN EFISIENSI OPERASIONAL SEBAGAI VARIABEL INTERVENING

This research explores the influence of credit risk, specifically non-performing loans (NPL), on the
profitability of Indonesian state-owned commercial banks, using operational efficiency as an
intervening variable. State-owned banks in Indonesia play a significant role in supporting the
national economy through credit distribution, particularly to small and medium-sized enterprises
(SMEs). However, rising NPL ratios present a critical challenge, impacting financial stability and
profitability. The study investigates how NPLs, as a proxy for credit risk, affect profitability, with
operational efficiency—measured by the operating expenses to operating income (OEOI) ratio—
acting as a mediator. Using data from four state-owned banks over the period 2015–2024, the
research applies path analysis and mediation tests to examine direct and indirect relationships. The
findings reveal that NPL positively affects operating efficiency, which in turn negatively affects
profitability (return on assets—ROA). Furthermore, operational efficiency significantly mediates the
correlation between NPL and profitability. These outcomes suggest that improving operational
efficiency can help diminish the negative influences of high credit risk. By integrating risk control
mechanisms with operational efficiency, state-owned banks can ensure long-term profitability. This
study provides practical insights for bank management in strengthening sustainable banking
operations in an emerging economy.