Determinants of Islamic Bank Profitability World: Liquidity, Financing Risk, and Technology
Likuiditas, Risiko Pembiayaan, dan Teknologi
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Keywords:
Islamic Banking, Bank Profitability, Liquidity, Financing Risk, Digitalization
Abstract
The development of Islamic banking worldwide has not been accompanied by evenly distributed profitability levels among banks across different regions. This condition indicates that internal factors within Islamic banks contribute to the differences in financial performance. This study examines profitability dynamics in Islamic banking by focusing on liquidity conditions, financing risk, and technological factors. The analysis draws on bank-level observations from 34 Islamic banks selected from 52 institutions affiliated with the Islamic Financial Services Board over the 2020–2024 period, forming a balanced panel dataset. Empirical panel data analysis indicates that liquidity indicators, including the FDR, Quick Ratio, and Cash Ratio, are closely associated with profitability. Financing risk also emerges as a significant factor, whereas technological factors do not show a statistically meaningful effect on profitability during the observed period. Considering all the findings as a whole, effective risk control procedures and appropriate liquidity strategies have a significant impact on the ability of Islamic banks to achieve long-term profitability globally.
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References
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Çollaku, Besmir, and Muhamet Aliu. “Impact of Non-Performing Loans on Bank’s Profitability: Empirical Evidence from Commercial Banks in Kosovo.” Journal of Accounting Finance and Auditing Studies 7, no. 3 (2021): 226–42. https://doi.org/10.32602/jafas.2021.027.
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Latif, Jasim, Muhammad Shehbaz Yaqub, Ahsan Masood, and Abdul Rahman. “Re-Examining the Financial Performance Measures of Commercial Banks in Pakistan.” Pakistan Journal of Social Sciences (PJSS) 42, no. 4 (2022): 785–98.
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Santika, Reza, Rizka Ayuni, and Titin Trisnawati. “Analysis Of Liquidity Ratios In Islamic Banks In Indonesia.” International Journal Of Management Finance 1, no. 4 (2024): 14–19. https://doi.org/https://doi.org/10.62017/finance.v1i4.44.
Setyowiyono, Heru, Restu Asa Marisza Sukma, Gayuh Kawedar, Rohmad Subagyo, and Mohammad Aswad. “Determinants Of Profitability Of Islamic Commercial Banks (Bus): An Empirical Study Of The Effect Of Fdr, Car, And Npf In The 2020-2024 Period.” COSTING: Journal of Economic, Business and Accounting 8, no. 6 (2025).
Sitnicka, Svetlana, Lin Xinyang, Ruslan Serhiienko, and Denys Babaiev. “Determinants Affecting Bank Profitability : A Broad and Comparative Analysis Across Regions and Income Groups.” Financial Markets, Institutions and Risks 9, no. 3 (2025): 120–58. https://doi.org/https://doi.org/10.61093/fmir.9(3).120-158.2025.
Spence, Michael. “Job Market Signaling.” Quarterly Journal of Economics 87, no. 3 (1973): 281–306. https://doi.org/10.1016/b978-0-12-214850-7.50025-5.
Subekti, Wahyu Agung Panji, and Guntur Kusuma Wardana. “Pengaruh CAR, Asset Growth, BOPO, DPK, Pembiayaan, NPF Dan FDR Terhadap ROA Bank Umum Syariah.” INOBIS: Jurnal Inovasi Bisnis Dan Manajemen Indonesia 5, no. 2 (2022): 270–85. https://doi.org/10.31842/jurnalinobis.v5i2.229.
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Tong, Xiao, and Wang Yang. “Empirical Analysis of The Impact of Financial Technology on the Profitability of Listed Banks.” International Review of Economics and Finance 98, no. 1 (2025): 103788. https://doi.org/10.1016/j.iref.2024.103788.
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Uddin, Hamid, Sabur Mollah, and Hakim Ali. “Does Cyber Tech Spending Matter for Bank Stability?” International Review of Financial Analysis 72, no. 1 (2020): 101587. https://doi.org/https://doi.org/10.1016/j.irfa.2020.101587.
Wardana, Guntur Kusuma, Noer Aisyah Barlian, and Chairil Fadillah Ichsan. “World Sharia Banking Capital Structure: Value, Size, Profitability and Dividend Policy.” Prosiding Konferensi Internasional Ekonomi Dan Bisnis Islam (ICONES) 10, no. 1 (2025): 231–42.
Barafwala, Nazmeen Ramjanibhai, and Dr. Amitkumar S. Mehta. “Shariah-Compliant Finance: An Analysis of the Islamic Financial Services Industry.” International Journal of Management, Public Policy and Research 2, no. 4 (2023): 88–94. https://doi.org/10.55829/ijmpr.v2i4.195.
Budianto, Eka Wahyu Hestya, and Nindi Dwi Tetria Dewi. “Pemetaan Topik Penelitian Seputar Cash Ratio Pada Perbankan Syariah Dan Konvensional: Studi Bibliometrik VOSviewer Dan Literature Review.” J-EBIS (Jurnal Ekonomi Dan Bisnis Islam) 7, no. 1 (2023): 1–15.
Chau, Le Phong, Tran Minh Khue, and Le Thanh Tam. “Impact of IT Investments on Bank Profitability : Empirical Evidence from Vietnam.” Investment Management and Financial Innovations 22, no. 2 (2025): 323. https://doi.org/10.21511/imfi.22(2).2025.26.
Chhaidar, Ahlem, Mouna Abdelhedi, and Ines Abdelkafi. “The Effect of Financial Technology Investment Level on European Banks’ Profitability.” Journal of the Knowledge Economy 14, no. 3 (2023): 2959–81. https://doi.org/10.1007/s13132-022-00992-1.
Citterio, Alberto, Timothy King, and Rossella Locatelli. “Is Digital Transformation Profitable for Banks ? Evidence from Europe.” Finance Research Letters 70, no. June (2024): 106269. https://doi.org/10.1016/j.frl.2024.106269.
Çollaku, Besmir, and Muhamet Aliu. “Impact of Non-Performing Loans on Bank’s Profitability: Empirical Evidence from Commercial Banks in Kosovo.” Journal of Accounting Finance and Auditing Studies 7, no. 3 (2021): 226–42. https://doi.org/10.32602/jafas.2021.027.
Creswell, John W., and Creswell J. David. Research Design: Qualitative, Quantitative, and Mixed Methods Approaches. Thousand Oaks, California: SAGE Publications, 2023.
Dewi, Aulia Siska Puspita, Moch Khoirul Anwar, and Maryam Bte Badrul Munir. “Pengaruh Tabungan Wadiah, Pembiayaan Bermasalah (NPF) Dan Risiko Likuiditas (FDR) Pada Produk ‘Tepat Pembiayaan Syariah’ Terhadap Profitabilitas (ROA) PT. Bank BTPN Syariah Tbk (2015 – 2023).” El-Qist: Journal of Islamic Economics and Business (JIEB) 14, no. 1 (2024): 64–81. https://doi.org/10.15642/elqist.2024.14.1.64-81.
Elwisam, Muhani, Ria, Kumba Digdowiseiso, Kartini, Difa Juliandi, and Djumadil Saputra. “Implementation of Signaling Theory in Financial Management: A Bibliometric Analysis.” Revista de Gestao Social e Ambiental 18, no. 3 (2024): 1–13. https://doi.org/10.24857/rgsa.v18n3-092.
Gultom, Kolija, Devi Yulianty Sihombing, and Thomas Firdaus Hutahaean. “Pengaruh Quickratio (QR), Net Interest Margin (NIM), Loan To Deposit Ratio (LDR), Dan Capital Adequacy Ratio (CAR) Terhadap Profitabilitas Pada Perusahaan Jasa Subsektor Perbankan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2016 – 2019.” Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi) 5, no. 2 (2021): 212–28. https://doi.org/https://doi.org/10.31955/mea.v5i2.1075.
Gyau, Emmanuel Baffour, Michael Appiah, Bright Akwasi Gyamfi, Theodoria Achie, and Muhammad Abubakr Naeem. “Transforming Banking : Examining the Role of AI Technology Innovation in Boosting Banks Financial Performance.” International Review of Financial Analysis, 2024, 103700. https://doi.org/10.1016/j.irfa.2024.103700.
Habriyanto, Habriyanto, Khairiyani Khairiyani, and Muhammad Amir Alfaruq. “Pengaruh Risiko Pembiayaan Dan Risiko Likuiditas Terhadap Profitabilitas Bank Umum Syariah Periode 2018-2020.” Al Fiddhoh: Journal of Banking, Insurance, and Finance 4, no. 1 (2023): 57–65. https://doi.org/10.32939/fdh.v4i1.2418.
Hakim, Lukman, Mutia Pamikatsih, and Hatta Setiabudi. “Analisis Pengaruh CAR, NPF, Dan FDR Terhadap ROA Bank Umum Syariah.” Jesya 6, no. 1 (2023): 649–60. https://doi.org/10.36778/jesya.v6i1.972.
Haris, Muhammad, HongXing Yao, and Hijab Fatima. “The Impact of Liquidity Risk and Credit Risk on Bank Profitability During COVID-19.” Plos One 19, no. 9 (2024): 1–24. https://doi.org/10.1371/journal.pone.0308356.
Hasibuan, Razali Ade Syahputra Hasibuan, and Ulfi Kartika Oktaviana. “Technological Innovation in Influence the Financial Performance of Sharia Banking In Indonesia.” Jurnal Ilmiah Ekonomi Islam 9, no. 01 (2023): 283–91. http://dx.doi.org/10.29040/jiei.v9i1.8147.
Himaa, Nurrosyida Latifa, and Tiara Juliana Jaya. “The Effect of Macroeconomic and Microeconomic Variables on the Profitability of Sharia Commercial Banks in Indonesia.” Maliki Islamic Economics Journal (M-IEC Journal) 4, no. 1 (2024). https://doi.org/10.21111/iej.v10i2.11759.
Junaidi, Firman, and Anggraeni. “Understanding The Dynamics of Liquidity and Inflation on Islamic Bank Profitability In Indonesia.” Profit: Jurnal Kajian Ekonomi Dan Perbankan Syariah 9, no. 1 (2025): 193–205. https://doi.org/https://doi.org/10.33650/profit.v9i1.12233.
Kasanah, Roisatun, Achmad Fadlil Abidillah, and Sulistya Rusgianto. “Assessing the Internal Factor Affecting the Bank Profitability in Indonesia: Case of Dual Banking System.” Jurnal Ekonomi & Keuangan Islam 8, no. 2 (2022): 167–81. https://doi.org/10.20885/jeki.vol8.iss2.art2.
Kasmir. Analisis Laporan Keuangan. Depok: PT RajaGrafindo Persada, 2019.
Khumaini, S, and M Nurzansyah. “Pengaruh Quick Ratio Dan Financing To Deposit Ratio Terhadap Return On Assets Pada PT. Bank Negara Indonesia Syariah Tahun 2016-2019.” Al Maal: Journal of Islamic Economics and Banking 2, no. 1 (2020): 38–48. https://doi.org/10.31000/almaal.v2i1.2748.
Latif, Jasim, Muhammad Shehbaz Yaqub, Ahsan Masood, and Abdul Rahman. “Re-Examining the Financial Performance Measures of Commercial Banks in Pakistan.” Pakistan Journal of Social Sciences (PJSS) 42, no. 4 (2022): 785–98.
Nugroho, Lucky, Federica Miglietta, Erik Nugraha, and Soeharo. “Islamic Bank Profitability: Financing Micro and Small Segment, Promotion, Financing Quality, Labor Aspects (Indonesia Cases).” European Journal of Islamic Finance, 2022, 2421–2172. https://doi.org/10.13135/2421-2172/6714.
Oktaviani, Violita, and Apriyana Maya. “Pengaruh Likuiditas Dan Risiko Pembiayaan Terhadap Kinerja Keuangan Bank Syariah Di Indonesia Tahun 2018-2022.” NISBAH: Jurnal Perbankan Syariah 9, no. 2 (2023): 92–102. https://doi.org/10.30997/jn.v9i2.11934.
Pandeirot, Lanemey Brigitha, Elvis Ronald Sumanti, and Andrew Christian Aseng. “An Empirical Study of Quick Ratio and Profitability on Manufacturing Firms in Indonesia.” Society 10, no. 2 (2022): 525–33. https://doi.org/10.33019/society.v10i2.470.
Putri, Shafa Nabilah, and Ulfi Pristiana. “Pengaruh Financial Technology , Fee-Based Income , Dan Biaya Operasional Pendapatan Operasional Terhadap Profitabilitas Perusahaan Perbankan Syariah Yang Terdaftar Di Bursa Efek Indonesia.” Jurnal Manajemen Bisnis Era Digital 2, no. 3 (2025). https://doi.org/https://doi.org/10.61132/jumabedi.v2i3.718.
Rahmawati, Elvira Eka, Tenny Badina, and Elif Pardiansyah. “Analisis Pengaruh Faktor Internal Dan Bank Umum Syariah Di Indonesia.” Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah 10, no. 204 (2025): 2809–34. https://doi.org/https://doi.org/10.30651/jms.v10i4.27413.
Regina, Farisa. “Pengaruh FDR Dan BOPO Terhadap Profitabilitas Bank Umum Syariah Di Indonesia Periode 2020-2023.” Jurnal Ilmiah Ekonomi Dan Manajemen 2, no. 6 (2024): 754–62. https://doi.org/https://doi.org/10.61722/jiem.v2i6.1618.
Report, Stability Islamic Financial Services Board. Islamic Financial Services Board,” 2024.
Report, Stability Islamic Financial Services Board. Islamic Financial Services Board,” 2025.
Ristiyono, Adinda Dwi, Faiqotul Himmah, Fredella Tania P.F, and Renny Oktafia. “Analisis Kinerja Keuangan Menggunakan Rasio Likuiditas Pada PT . Bank Rakyat Indonesia ( Persero ) Tbk Tahun 2020-2022.” Jurnal Rumpun Manajemen Dan Ekonomi 1, no. 1 (2024): 30–39. https://doi.org/https://doi.org/10.61722/jrme.v1i1.1142.
Saleh, Isam, and Malik Abu Afifa. “The Effect of Credit Risk, Liquidity Risk and Bank Capital on Bank Profitability: Evidence From an Emerging Market.” Cogent Economics and Finance 8, no. 1 (2020). https://doi.org/10.1080/23322039.2020.1814509.
Santika, Reza, Rizka Ayuni, and Titin Trisnawati. “Analysis Of Liquidity Ratios In Islamic Banks In Indonesia.” International Journal Of Management Finance 1, no. 4 (2024): 14–19. https://doi.org/https://doi.org/10.62017/finance.v1i4.44.
Setyowiyono, Heru, Restu Asa Marisza Sukma, Gayuh Kawedar, Rohmad Subagyo, and Mohammad Aswad. “Determinants Of Profitability Of Islamic Commercial Banks (Bus): An Empirical Study Of The Effect Of Fdr, Car, And Npf In The 2020-2024 Period.” COSTING: Journal of Economic, Business and Accounting 8, no. 6 (2025).
Sitnicka, Svetlana, Lin Xinyang, Ruslan Serhiienko, and Denys Babaiev. “Determinants Affecting Bank Profitability : A Broad and Comparative Analysis Across Regions and Income Groups.” Financial Markets, Institutions and Risks 9, no. 3 (2025): 120–58. https://doi.org/https://doi.org/10.61093/fmir.9(3).120-158.2025.
Spence, Michael. “Job Market Signaling.” Quarterly Journal of Economics 87, no. 3 (1973): 281–306. https://doi.org/10.1016/b978-0-12-214850-7.50025-5.
Subekti, Wahyu Agung Panji, and Guntur Kusuma Wardana. “Pengaruh CAR, Asset Growth, BOPO, DPK, Pembiayaan, NPF Dan FDR Terhadap ROA Bank Umum Syariah.” INOBIS: Jurnal Inovasi Bisnis Dan Manajemen Indonesia 5, no. 2 (2022): 270–85. https://doi.org/10.31842/jurnalinobis.v5i2.229.
Tias, Utami Prihati Ning, Arni Purwanti, and Surtikanti. “Pengaruh Likuiditas (Quick Ratio) Dan Perputaran Modal Kerja Terhadap Return On Asset.” Responsive 3, no. 1 (2020): 1–17. https://doi.org/10.24198/responsive.v3i1.28915.
Tong, Xiao, and Wang Yang. “Empirical Analysis of The Impact of Financial Technology on the Profitability of Listed Banks.” International Review of Economics and Finance 98, no. 1 (2025): 103788. https://doi.org/10.1016/j.iref.2024.103788.
Trisnaudy, Wulan Ramadani, and Ersi Sisdianto. “Peran Rasio Likuiditas Terhadap Efisiensi Dan Efektivitas Operasional Bank Syariah Dan Bank Konvensional.” JICN: Jurnal Intelek Dan Cendikiawan Nusantara 1, no. 6 (2025): 9976–84.
Uddin, Hamid, Sabur Mollah, and Hakim Ali. “Does Cyber Tech Spending Matter for Bank Stability?” International Review of Financial Analysis 72, no. 1 (2020): 101587. https://doi.org/https://doi.org/10.1016/j.irfa.2020.101587.
Wardana, Guntur Kusuma, Noer Aisyah Barlian, and Chairil Fadillah Ichsan. “World Sharia Banking Capital Structure: Value, Size, Profitability and Dividend Policy.” Prosiding Konferensi Internasional Ekonomi Dan Bisnis Islam (ICONES) 10, no. 1 (2025): 231–42.
Published
2026-05-26
How to Cite
Firdaus, Violinda Syahgaria, and Guntur Kusuma Wardana. 2026. “Determinants of Islamic Bank Profitability World: Liquidity, Financing Risk, and Technology: Likuiditas, Risiko Pembiayaan, Dan Teknologi”. Shafin: Sharia Finance and Accounting Journal 6 (1), 1-16. https://doi.org/10.19105/sfj.v6i1.24304.
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