The Effects of FDR and BOPO on Financial Stability: The Mediating Role of ROA at Bank Syariah Indonesia

Widya Sari; Vidia Dwi Virania

doi:10.15575/jieb.v6i1.59646

Authors

Widya Sari Universitas Ma'soem, Indonesia
Vidia Universitas Ma'soem, Indonesia

DOI:

https://doi.org/10.15575/jieb.v6i1.59646

Keywords:

BOPO, Financing to Deposit Ratio, Financial Stability, Islamic Banking, Return on Assets, Z-Score

Abstract

The financial stability of Islamic banks depends on their ability to manage liquidity, operational efficiency, and profitability. This study examines the effects of the Financing to Deposit Ratio (FDR) and Operating Expenses to Operating Income (BOPO) on financial stability, with Return on Assets (ROA) as an intervening variable at Bank Syariah Indonesia (BSI). Using a quantitative associative approach, this study analyzes 20 quarterly observations derived from BSI's financial statements covering the 2021–2025 period. The data were analyzed using multiple linear regression, path analysis, and the Sobel test. The reported results indicate that FDR has a positive and significant relationship with ROA and financial stability. BOPO has a negative and significant relationship with ROA but a positive and significant relationship with financial stability. Furthermore, ROA demonstrates a positive and significant relationship with financial stability and mediates the relationships of FDR and BOPO with financial stability. The findings highlight the interconnected relationships among liquidity, operational efficiency, and profitability in explaining BSI's financial performance. However, the results require careful interpretation because ROA is also a component of the financial stability measure (Z-Score), potentially creating a mechanical relationship between the variables.

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