RESILIENT BANKING IN UNCERTAIN TIMES: A COMPARATIVE PROFITABILITY ANALYSIS OF BSI AND BTN IN SUPPORTING AN INCLUSIVE ASEAN ECONOMY
DOI:
https://doi.org/10.54783/b6mevr84Keywords:
Comparative banking performance; Efficiency structure theory; Independent samples t-test; Financial performance analysis; Sharia-compliant finance.Abstract
This study aims to conduct a comparative analysis of profitability between PT Bank Syariah Indonesia Tbk (BSI) and PT Bank Tabungan Negara (Persero) Tbk (BTN) during the 2021–2023 period. It evaluates seven profitability ratios as Operating Profit Margin, Net Profit Margin, Return on Assets, Return on Equity, Return on Investment, Return on Sales, and Earnings per Share, to assess the financial efficiency and managerial effectiveness of state-owned banks operating under fundamentally different systems: Islamic and conventional banking. Adopting a positivist quantitative paradigm, the study uses a comparative approach based on secondary data from audited financial statements. Descriptive statistics, normality tests, and the Independent Samples T-Test are applied in SPSS 31 to determine whether significant differences in the two banks’ profitability indicators. Empirical results reveal that BSI consistently outperforms BTN in most profitability measures, particularly OPM, NPM, ROA, ROI, and ROS, reflecting stronger cost efficiency and operational management. BTN, however, records higher Earnings per Share, suggesting greater shareholder value generation. The t-test confirms statistically significant differences in five of the seven indicators (p < 0.01), supporting the Efficiency Structure Theory as an explanatory framework. These findings emphasize the importance of cost control, digital transformation, and post-merger integration for enhancing Islamic bank profitability. Regulators and policymakers should promote efficiency-driven policies to sustain financial competitiveness across both banking models. This research provides novel, post- merger evidence on comparative profitability within Indonesia’s dual banking system. It enriches the Islamic banking literature by empirically validating the relevance of efficiency-based theories in emerging markets.
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