JRSSEM 2021, Vol. 01, No. 5, 523 – 544
E-ISSN: 2807 - 6311, P-ISSN: 2807 - 6494
DOI : 10.36418/jrssem.v1i5.43
ANALYSIS OF FINANCIAL PERFORMANCE
MEASUREMENT SHARIA BANK USING RGEC AND SCnP
(SHARIAH CONFORMITY AND PROFITABILITY) MODEL
Saparuddin Siregar 1
Mutiara Shifa 2*
1, 2 Academies of Informatics and Computers, State Islamic University of North Sumatra, Indonesia
e-mail: Mutiarashifa1993@gmail.com1, saparuddinss@yahoo.com 2
*Correspondence:Mutiarashifa1993@gmail.com1
Submitted: 10 November 2021, Revised: 12 December 2021, Accepted: 14 December 2021
Abstract. The problem in this study is how the financial performance problems of BUMN Islamic
banks using the RGEC and SCnP models and the comparison of the two methods. This study aims
to determine the financial performance of state-owned Islamic banks using the RGEC and SCnP
models and to compare the two methods. The type of research that the author uses is quantitative
research. Data collection techniques using documentation through financial reports obtained from
the official website of PT. BRI Syariah Tbk, PT. BNI Syariah, and PT. Bank Mandiri Syariah. The data
analysis technique uses financial ratios and Sharia Conformity and Profitability (SCP) as measured
by indicators of sharia conformity and profitability. The results showed that PT. BRI Syariah, Tbk in
2017, 2018, and 2019 based on the RGEC method, respectively, were at a composite rank of 3, while
in the SCnP Model, each PT. BRI Syariah, Tbk is in the LLQ, LRQ, and LRQ quadrants. For PT. BNI
Syariah in 2017, 2018, and 2019 based on the RGEC method was ranked 2, 2, and 1, respectively,
while in the SCnP Model, PT. BNI Syariah is in the ULQ, ULQ, and URQ quadrants. Then PT. Bank
Syariah Mandiri in 2017, 2018, and 2019 based on the RGEC method was respectively ranked 2, 2,
and 1, while in the SCnP Model, PT. Mandiri Syariah Bank is in the next LLQ, LRQ, and URQ
quadrants
Keywords: financial performance, RGEC, SCP
Saparuddin Siregar, Mutiara Shifa | 524
DOI : 10.36418/jrssem.v1i5.43
INTRODUCTION
In today's modern world, support from
a sound and stable financial system is the
most crucial factor in developing a country.
The rapid development of the times has
become one of the triggers for the
development of the economy in recent
years, which has caused the public's need
for the services of financial institutions to
also increase in terms of quantity and
quality. As a country where the majority of
the population is Muslim, Indonesia has
long desired the presence of a financial
institution system that meets the demands
of not only financial needs but also moral
demands (Muhammad, 2004).
Sharia banking developed significantly
in Indonesia in 2008, which coincided with
the enactment of the Sharia banking law in
the family in order to be in line with the
national development goals to achieve the
creation of a just and prosperous society
based on economic democracy by
developing an economic system based on
the value of justice, equality, equity, and
benefits following sharia principles
(Anshori, 2018).
The development of the Islamic
economy is currently the subject of
discussion for economic actors. The
phenomenon that many financial
institutions apply sharia principles is a form
of success in developing Islamic economics.
The development of Islamic banking in
Indonesia can be said to be very rapid, both
in terms of the number of openings of new
branch offices, the type of bank business,
and the volume of activities carried out, as
evidenced since the opening of the first
Islamic Bank in 1992, the growth of this
industry is considered quite progressive, as
evidenced by the data on the number of
Islamic Commercial Banks. (BUS), Sharia
Business Unit (UUS) and Sharia Rural Bank
(BPRS). The following is Table 1. which
shows the development of Islamic Banks in
Indonesia:
Table 1. Development of Islamic Banks in
Indonesia
Indications
20
15
20
16
20
17
20
18
20
19
BUS
12
13
13
14
14
UUS
22
21
21
20
20
BPRS
16
3
16
6
16
7
16
7
16
4
Source: Banking Statistics, 2019
The table above shows that the
development of Islamic banking in
Indonesia is increasing. From the data
above, it can be seen that the number of
BUS increased from 2015, which only
amounted to 12 BUS, then increased in
2019 to 14 BUS. The increase in the number
of BUS in Indonesia shows good
development, which must be in line with
the increase in the performance of the BUS
itself.
The government's attitude in
developing Islamic banking in Indonesia is
also reflected in the concrete actions of
three Islamic banks (PT. BRI Syariah Tbk, PT.
BNI Syariah, and PT. Bank Syariah Mandiri),
which will soon be merged into one
company merger. The three banks are
banks that will be merged to become PT.
Bank Syariah Indonesia in 2021. The
Ministry of Law and Human Rights
(KEMENKUMHAM) has issued a letter of
receipt of notification regarding the merger
of three state-owned Islamic commercial
banks. In letter No. AHU-AH.01.10-0011384
on January 28, which was signed by the
Director-General of General Legal
525 | Financial Performance Measurement Analysis of Sharia Bank Using RGEC and SCnP (Shariah
Conformity and Profitability) Model
Administration, the data in the form of the
entry merger stored in the system
administrator of the legal entity was based
on the notarial deed number 27 on January
14, 2021, which made a notary Jose Dima
Satria domiciled in Jakarta. (Idries et al.,
2021) The merger of three state-owned
Islamic banks is valid effective on February
1, 2021. The merger of the three state-
owned Islamic banks is predicted to be a
catalyst for the development of the sharia
industry in Indonesia and is expected to be
included in the TOP 10 global sharia banks
in terms of market capitalization with total
assets of IDR 214.6 trillion (CNBC Indonesia,
2021)
In line with this, of course, the
development of Islamic banking is also
expected to be in line with the growth of
the financial performance of the Islamic
Bank. (Fahmi, 2012) stated that
performance is an activity carried out by
the company to measure company
performance effectively and efficiently to
achieve company goals. In general, it can
also be said that performance is an
achievement that the organization can
achieve within a certain period.
Performance is an important factor used to
measure the effectiveness and efficiency of
the organization. Based on the Financial
Services Authority Regulation Number
8/POJK.03/2014 concerning the
assessment of the soundness level of
Islamic Commercial Bank Sharia Bank's
soundness level and Business Units, the
result of an assessment of the Bank's
condition based on risks related to the
implementation of sharia principles and the
Bank's performance or referred to as Risk-
Based Bank. Ratings. Therefore, the Bank's
performance must be considered and
improved to maintain the soundness of the
Bank. The following table 1.2 shows the
financial ratios of BUS in Indonesia.
Table 2. Financial Ratios of Islamic
Commercial Banks in Indonesia
Indi
cati
ons
201
5
201
6
201
7
201
8
201
9
CAR
15.0
2%
16.6
3%
17.9
1%
20.3
9%
20.5
9%
ROA
0.49
%
0.63
%
0.63
%
1 ,28
%
1.73
%
NPF
4.84
%
4.42
%
4.76
%
3.26
%
3.23
%
FOR
88.0
3%
85.9
9%
79.6
1%
78.5
3%
77.9
1%
BOP
O
97.0
1%
96.2
2%
94.9
1%
89.8
1%
84.4
6%
Source: Sharia Banking Statistics 2015-2019
The data above shows the value of the
Capital Adequacy Ratio (CAR) has increased
from year to year, from 2015 to 2015. 2019
has continuously increased. This condition
shows that Islamic commercial banks are
better at maintaining their capital
adequacy. In other words, Islamic
commercial banks are getting better in the
capital. The ability to earn profits
represented by Return on Assets (ROA) in
2015 reached 0.49%, which then increased
in 2016 to 0.63%. However, in 2017, ROA
did not increase or decrease in the
following year. Continued in 2018, it
increased to 1.28% and continued in 2019
to 1.73%. This indicates that Islamic
commercial banks in terms of ROA can be
good.
In terms of Non-Performing Financing
(NPF) in 2015, it was 4.84%, then decreased
in 2016 to 4.42%, but in 2017 the NPF value
increased to 4.76% and fell again in the
following year 2018 and 2019 to 3 .26%,
Saparuddin Siregar, Mutiara Shifa | 526
3.23%. The increase in the NPF value in
2017 indicates that Islamic commercial
banks are not maintaining the principle of
prudence in channeling their funds,
increasing the NPF side. In terms of the
Financial to Deposit Ratio (FDR), Islamic
commercial banks had decreased from
88.03% in 2015 to 77.91% in 2019. This
illustrates that third-party funds channeled
for financing by Islamic commercial banks
in facilitating between owners capital with
parties who need funds has decreased
function.
In terms of the Ratio of Operating
Expenses to Operating Income (BOPO) of
Islamic banks in 2015 to 2019 always
experienced a decline which in 2015
became 97.01%, decreased until 2019 to
84.46%, this illustrates that Islamic banks in
Indonesia from The BOPO side can be said
to be good and has met the average BOPO
standard according to Bank Indonesia. The
following table 1.3 shows the financial
ratios of BUMN Sharia Commercial Banks in
Indonesia.
Table 3. Financial Ratios of BUMN Sharia
Commercial Banks in Indonesia
Indica
tions
201
5
201
6
201
7
201
8
201
9
PT. BRI Syariah, Tbk
CAR
13.9
4%
20.6
3%
20.0
5%
29.7
3%
25.2
6
%
ROA
0.78
%
0.95
%
0.51
%
0.43
%
0.31
%
NPF
4.86
%
4.57
%
3.87
%
6.73
%
5.22
%
FDR
84.1
6
%
81.4
7%
71.8
7%
75.4
9%
80.1
2%
BOPO
93.7
91.3
96.8
95,3
95.3
9%
3%
0%
2%
4%
PT. BNI Syariah
CAR
15.4
8%
14.9
2%
20.1
4%
19.3
1%
18.8
8%
ROA
1.43
%
1.44
%
1.31
%
1.42
%
1.82
%
NPF
2.53
%
2 ,94
%
2.89
%
2.93
%
3.33
%
FDR
91.9
4%
84.5
7%
80.2
1%
79.6
%
74.3
%
BOPO
89.6
3%
86.8
8%
87.2
6%
85 ,3
7%
81.2
6%
PT. Bank Syariah Mandiri
CAR
14.0
1%
12.8
5%
15.8
9%
16.2
6%
16.1
5%
ROA
0.56
%
0.59
%
0.59
%
0.88
%
1.69
%
NPF
6.06
%
4.92
%
2.44
%
3.28
%
4.53
%
FDR
81.9
9%
79.1
9
%
77.6
6%
77.2
5%
75.5
4%
BOPO
94.7
9%
94.1
2%
94.4
4%
91.1
6%
82.8
9%
Source: Sharia Banking Statistics 2015-2019
The above data shows the financial
ratios of Islamic Commercial Banks in
Indonesia from 2015 to 2019. Seen from
the CAR ratio of PT. BRI Syariah, Tbk from
2015 to 2019 experienced an increase and
decrease in the value of the CAR ratio, and
this illustrates that PT. BRI Syariah, Tbk has
not been good in maintaining its capital
adequacy. For ROA at PT. BRI Syariah, Tbk
also experienced an increase and decrease
in the value of ROA, which shows PT. BRI
Syariah, Tbk has not been good in the
ability to earn a profit. For the value of the
NPF ratio of PT. BRI Syariah, Tbk
experienced fluctuation, which shows that
PT. BRI Syariah, Tbk does not maintain the
principle of prudence in distributing its
funds. In terms of the FDR ratio of PT. BRI
527 | Financial Performance Measurement Analysis of Sharia Bank Using RGEC and SCnP (Shariah
Conformity and Profitability) Model
Syariah, Tbk experienced a decrease and
increase in the value of FDR, which
describes PT. BRI Syariah, Tbk that third
party funds channeled for financing by PT.
BRI Syariah, Tbk in facilitating between
owners of capital and parties who need
funds has increased its function. Lastly, for
the financial ratios seen from the BOPO of
PT. BRI Syariah, Tbk experienced a decrease
and increase in the value of BOPO, which
illustrates that PT. BRI Syariah, Tbk from the
BOPO side cannot be said to be good in
meeting the average BOPO standard
according to Bank Indonesia.
In the journal (Al Ghifari et al., 2015) it
is stated that the Sharia Conformity and
Profitability (SCnP) Model is one of the
research models of financial performance
in banking, especially in Islamic banking.
The SCnP model used is a research model
for assessing the financial performance of
Islamic banking that has been carried out
by (Kuppusamy et al., 2010). This model
combines its orientation on profitability
indicators used to assess conventional
financial performance with the orientation
of the conformity index to the sharia
system to assess socio-economic
conditions. -economic obligations of
Islamic banks.
This study aims to compare the
financial performance measurement of
BUMN Sharia Commercial Banks (PT. BRI
SyariahTbk, PT. BNI Syariah and PT. Bank
Syariah Mandiri) using the Risk Profile,
Good Corporate Governance, Earning,
Capital (RGEC) methods and methods the
Shariah Conformity And Profitability (SCP)
method for the 2017-2019 period.
For the financial ratios of PT. BNI
Syariah is seen from the CAR ratio of PT.
BNI Syariah, from 2015 to 2019,
experienced fluctuations in the value of the
CAR ratio. This illustrates that PT. BNI
Syariah has not been good at maintaining
its capital adequacy. For ROA at BNI,
Syariah also increased and only slightly
decreased the ROA value, which shows PT.
BNI Syariah is good in terms of the ability
to earn profits. For the value of the NPF
ratio of PT. BNI Syariah has fluctuated,
which shows that PT. BNI Syariah does not
maintain the principle of prudence in
distributing its funds. In terms of the FDR
ratio of PT. BNI Syariah experienced a
decrease in the value of FDR, which
describes PT. BNI Syariah that third party
funds channeled for financing by BNI
Syariah in facilitating between capital
owners and parties who need funds have
decreased in function. Lastly, for the
financial ratios seen from the BOPO of PT.
BNI Syariah broadly PT. BNI Syariah
experienced a decrease in the BOPO value
which illustrates that BRIS from the BOPO
side can be said to be good in meeting the
average BOPO standard according to Bank
Indonesia.
After doing this research, it is clear that
the differences analyzed from those seen
before and now differ significantly.
MATERIALS AND METHODS
The author uses field research using a
quantitative descriptive approach, namely
research that is carried out intensively, in
detail, and in-depth through a qualitative
approach. The quantitative research
method is a type of research whose
specifications are systematic, planned, and
structured from the beginning to the
Saparuddin Siregar, Mutiara Shifa | 528
making of research designs (Sugiyono,
2017).
The type of data used is secondary
data, namely the type of data obtained
indirectly from the source. The source of
the data used in this study is financial
reports for the years 2017-2019. The
financial statements are obtained through
the official website of the concerned Islamic
Bank, which has published its financial
statements.
This research was conducted on 3
state-owned Islamic banks in Indonesia
through the website official of the Islamic
Bank concerned from December 2020 to
January 2021.
The method used in data collection in
this study is the documentation method.
The documentation method is a source of
data used to complete research, both in
written sources, films, pictures (photos),
and monumental works, all of which
provide information for the research
process (Echdar, 2017). This method uses
secondary data in the form of financial
statements consisting of the financial
statements of PT. BRI Syariah, Tbk in 2017-
2019, published through the website
official http://www.brisyariah.co.id, the
financial statements of PT. BNI Syariah in
2017 – 2019 through the website official
http://www.bnisyariah.co.id, and the
financial statements of PT. Bank Syariah
Mandiri in 2071-2019 through the
website official http://www.mandirisyariah.
co.id.
The data analysis technique used in
this study is to collect the data needed to
measure the financial performance of
Islamic commercial banks obtained from
the annual financial statements of each
Bank and calculate financial ratios with a
predetermined formula.
RESULTS AND DISCUSSION
Islamic banking or Islamic banking is a
banking system whose implementation is
based on Islamic law (Sharia). The
formation of this system is based on the
prohibition in Islam to borrow or collect
loans by charging interest on loans (Riba),
as well as the prohibition to invest in
businesses categorized as forbidden
(haram) in their investments, for example in
businesses related to the production of
food or beverages. Haram, must be non-
Islamic media or entertainment, etc.
(Naf’an, 2014) As explained in the word of
God in Surah Al-Imran verse 130.
Meaning:
“O you who believe! Do not feed on
usury, compounded over and over,
and fear God, so that you may
prosper”.
In this case, Islamic banking is present
as a solution for sharia-based financial
transactions. The basis of Islamic banking
refers to the teachings of the Islamic
religion which are sourced from the Qur'an,
al-hadith or as-sunnah and ijtihad. The
teachings of Islam which are sourced from
divine revelation and as-sunnah teach its
people to try to get a good life in this world
while at the same time getting a good life
in the hereafter. The verses of the Qur'an
that explain transactions in accordance
with Islamic teachings are as follows: God's
word in Surat an-Nisa ': 29
529 | Financial Performance Measurement Analysis of Sharia Bank Using RGEC and SCnP (Shariah
Conformity and Profitability) Model
Meaning:
“O you who believe! Do not consume
each other’s xwealth illicitly, but trade
by mutual consent. And do not kill
yourselves, for God is Merciful towards
you”.
This means that doing life in this world
cannot be done by justifying any means,
but must be done through righteous deeds.
Islamic bank is a bank whose business
activities are carried out based on sharia
principles. Meanwhile, sharia principles are
agreement rules based on Islamic law
(Indonesia, 2008).
Islamic banks are banks that operate
without relying on interest. Islamic banks
can also be defined as financial/banking
institutions whose operations and products
are developed based on the Qur'an and the
hadith of the Prophet Muhammad. Antonio
and Perwata atmadja distinguish into two
meanings, namely Islamic banks and banks
that operate with Islamic sharia principles.
Islamic banks are banks that operate with
Islamic sharia principles and whose
operating procedures refer to the
provisions of the Qur'an and Hadith. Banks
that operate in accordance with Islamic
sharia principles are banks that in their
operations follow the provisions of Islamic
sharia, especially those concerning the
procedures for muamalah in Islam.
Performance is the result obtained by
a company both profit oriented and non
profit oriented which is produced over a
period of time. Performance management
is a science that combines art in it to apply
a management concept that has a
representative and aspirational level of
flexibility in order to realize the company's
vision and mission by using the people in
the organization to the fullest (Fahmi,
2012).
The company's financial performance
is the result of various decisions that are
made continuously to achieve certain goals
in terms of finance where the company
needs to involve an analysis of the
cumulative financial and economic impacts
of decisions and considerations using
comparative measures (Ratnasari &
Handayani, 2013). Financial performance is
an analysis carried out to see the extent to
which a company has implemented it using
financial implementation rules properly
and correctly (Fahmi, 2012)
The standard for conducting bank
health assessments has been determined
by the government through Bank
Indonesia, which has now shifted
responsibility to the OJK. Based on
Financial Services Authority Regulation
Number 8/POJK.03/2014 concerning
Assessment of Soundness Level of Sharia
Commercial Banks (P. O. J. Keuangan, 2014)
and Sharia Business Units and Financial
Services Authority Circular Letter Number
10/SEOJK.03/2014 concerning Assessment
of Soundness Level of Sharia Commercial
Banks and Sharia Business Units with using
a risk approach (Risk Based Bank Rating)
both individually and on a consolidated
basis (O. J. Keuangan, 2014). This
assessment procedure is better known as
the RGEC method, which stands for Risk
Profile, Good Corporate Governance (GCG),
Earning, and Capital.
Saparuddin Siregar, Mutiara Shifa | 530
The explanation of the components of
the RGEC method is as follows
a. Risk Profile
According to (P. O. J. Keuangan,
2014) which refers to (SEBI
No.13/24/DPNP in 2011) Risk Profile
factor assessment is an assessment of
inherent risk and quality of
implementation risk management in the
Bank's operational activities. Risk in the
banking context is a potential event,
both predictable and unpredictable,
which has a negative impact on income
and capital. These risks cannot be
avoided, but can be managed and
controlled. Risks that must be assessed
consist of 8 types of risk, namely credit
risk, market risk, operational risk,
liquidity risk, legal risk, strategic risk,
compliance risk and reputation risk
(POJK No.8/03/2014 Assessment of the
Soundness of Islamic Commercial Banks
and Units Sharia Business). In this study,
the authors measure the factor risk
profile using two indicators, namely the
financing risk factor using the NPF
formula and liquidity risk using the FDR
formula (P. O. J. Keuangan, 2014).
b. GCG (Good Corporate Governance)
Corporate Governance or corporate
governance is a system used to direct
and control the company's business
activities. Corporate governance can
also be interpreted as the relationship
between the board of commissioners,
the board of directors, stakeholders, and
company shareholders. In the
Regulation (SEOJK No.10/seojk.03/2014
concerning the Assessment of the
Soundness of BUS and UUS) which
requires banks in Indonesia to include
the factor Good Corporate Governance
in one of the assessments of the
soundness of banks, the company really
needs to have a great responsibility in
maintaining the stability of the banking
system so that it can obtain the title of
implementing sound corporate
governance (P. O. J. Keuangan, 2014).
Implementation of Good Corporate
Governance for Islamic Banks explained
in Bank Indonesia Regulation (SEOJK 10
/ SEOJK.03 / 2014) that good corporate
governance is a governance of Islamic
banks to apply the principles of
transparency, accountability,
responsibility, Professional, and fairness
c. Earning Profitability
Earning Profitability is an assessment of the
condition of the ability of banks and
UUS to generate profits in order to
support operational and capital
activities (Indonesia, 2012). Profitability
ratio is often referred to as business
profitability. This ratio is used to
measure the level of business efficiency
and profitability achieved by the bank
concerned. The profit earned from the
activities carried out is a reflection of the
performance of a company in running its
business. In other words, the profitability
ratio in addition to aiming to increase
the ability of banks to generate profits
during a certain period, also aims to
measure the level of management
effectiveness in carrying out the
company's operations (Kasmir, 2014).
Increased profitability indicates the
company's efficiency in generating
profits and this indicates a healthy
banking condition. Earnings quality
determines the bank's ability to earn
531 | Financial Performance Measurement Analysis of Sharia Bank Using RGEC and SCnP (Shariah
Conformity and Profitability) Model
consistent profits.
d. Capital
In order to ensure and maintain the
soundness of Islamic banking, banks
that conduct business based on sharia
principles are required to meet the
minimum capital adequacy ratio (CAR)
atau Capital Adequacy Ratio (CAR) as
stipulated in Bank Indonesia regulation.
The provisions in Article 11 of Law No.
21 of 2008 confirms that the minimum
amount of paid-up capital to establish a
sharia bank is stipulated in a Bank
Indonesia Regulation (Indonesia, 2008).
Capital assessment is an assessment
of the adequacy of bank capital, both
BUS and UUS, in securing current risks
and anticipating risks that will occur in
the future. Banks that have a CAR below
8% must immediately receive serious
attention and treatment for immediate
repair. The addition of CAR to achieve as
set out takes time until the government
also gives time in accordance with the
provisions. If until the specified time, the
CAR target is not achieved, the bank
concerned will be subject to sanctions
(Nur Wijayanti, 2018).
Table 4. Component Rating Bank with
Method RGEC
Factors
Assessed
Component
Risk
Profile
(risk
profile)
● Risk financing to total
financing
● risk of total financing
provided to third party
funds
GCG(GCG)
● implementation of the
duties and
responsibilities of the
board of directors
● implementation of the
duties and
responsibilities of the
board of directors
● Completeness and
implementation of the
duties of the committees
● Implementation of the
duties and
responsibilities of DPS
● Implementation of
sharia principles in the
collection and
distribution of funds as
well as services
● Handling conflicts of
interest
● Implementation of
compliance
● functions
Implementation of
internal audit
● functions
Implementation of
external functions
● Maximum limits of fund
distribution
● Transparency of
financial condition of
non-financial funds BUS,
GCG implementation
reports and internal
reporting
Earning
(Rentabili
ty)
● Ratio of net profit before
tax to total assets
● Ratio of operating
income to operating
costs
Capital
(Capital)
● Ratio of capital to assets
weighted risk-
Source:
Shariah Conformity and Profitability
(SCnP) Model is one of the performance
Saparuddin Siregar, Mutiara Shifa | 532
appraisal models in banking, especially in
sharia banking. The SCnP model used is a
research model for assessing banking
financial performance that was carried out
by (Kuppusamy et al., 2010) in 2010. This
model combines its orientation on
profitability indicators used to assess
conventional financial performance with
the orientation of the conformity index to
the sharia system to assess socio-economic
obligations. Islamic banks (Ratnaputri,
2013).
Shariah Conformity and Profitability
(SCnP) The model in this study uses two
indicators, namely Shariah Conformity and
Profitability. Shariah Conformity or sharia
compliance will measure how much the
bank is able to meet its compliance with the
sharia system, whether its investment,
income or profit sharing uses the sharia
system or not, while profitability or
profitability will measure how much Islamic
banks are able to generate profits during a
certain period, by managing their business
in that period (Ratnaputri, 2013).
a. Sharia Conformity
The financial performance of Islamic
banks can be measured using both
conventional and sharia financial
indicators. (Kuppusamy et al., 2010) in
(Ratnaputri, 2013) explain that Shariah
Conformity can be measured using
indicators of sharia investment, sharia
income, and profit sharing ratios.
b. Profitability
In the SCnP Model, the
measurement of financial performance
is measured by one of the financial
indicators, namely profitability. Bank
profitability can be measured using the
indicators of Return on Assets (ROA),
Return on Equity (ROE), and Profit
Margin.
Measurement of Financial
Performance Using the SCnP Model
classifies Islamic banks into four squares
consisting of the Upper Right Quadrant
(URQ) which indicates that Islamic banks
have conformity with sharia principles
and high profitability. Lower Right
Quadrant (LRQ) which indicates that
Islamic banks have high compliance with
sharia principles, but low profitability.
Upper Left Quadrant (ULQ) which
indicates that Islamic banks have low
compliance with sharia principles, but
high profitability. Lower Left Quadrant
(LLQ) which indicates that Islamic banks
have compliance with sharia principles
and low profitability . The following is a
picture of the sharia conformity and
profitability (SCnP) model.
Figure 1. Image of SCnP Model
According to (Prasetyowati &
Handoko, 2016) in their journal entitled
"Analisis Kinerja Perbankan Syariah Di
Indonesia Dan Malaysia Dengan
Pendekatan Maqashid Indeks" from this
study it can be concluded that the index
measurement shows varying results and
533 | Financial Performance Measurement Analysis of Sharia Bank Using RGEC and SCnP (Shariah
Conformity and Profitability) Model
the majority of BUS in Indonesia shows a
fluctuating performance with a vulnerable
index between 0.16901-0.34297. The best
performance was achieved by BMI who
consistently maintained performance with
a total MI in the range of 0.29403-0.34031
and managed to rank 1 and 2 for four
consecutive years.
Dewi Fitriani in her thesis entitled
"Perbandingan Kinerja Keuangan Syariah
Antara Sharia Conformity And Profitability
(Scnp) Dan Sharia Maqashid Index (Smi)
Pada Bank Umum Syariah Di Indonesia
Periode 2011-2016" from this study it can
be concluded that the measurement of the
financial performance of Islamic banks
Islamic Commercial Banks (BUS) IN
Indonesia in the period 2011-2016 which is
viewed from the aspect of Shariah
Conformity and Profitability produces an
average value for the variable shariah
conformity of 0.7791 and the average value
for the variable is profitability 0.0715
(Fitriani, 2018). The BUS that obtained the
highest score for achieving shariah
conformity were Panin Bank Syariah (PBS)
and the BUS that obtained the highest
score on the variable of Profitability Bank
Mega Syariah (BMS). The position of
achieving the shariah conformity low estis
Bank Mega Syariah (BMS) while the
achievement of Profitability lowestis at
Bank Syariah Bukopin.
Evan Hamzah Muchtar and Mohamad
Rofi in their journal entitled "Measurement
of the Financial Performance of Bank
Muamalat Indonesia with the Shariah
Conformity and Profitability (SCNP)
Method" from this study it can be
concluded that the results of research on
Bank Muamalat Indonesia in 2013-2017
using the SCnP Model successively The
bank is in the Upper Left Quadrant (ULQ),
Lower Left Quadrant (LLQ), Lower Right
Quadrant (LRQ), Upper Right Quadrant
(URQ) and Lower Left Quadrant (LLQ). This
means that for five years the bank's
position is in four quadrants with different
acquisition values. Broadly speaking, banks
are to the left of the X line and below the Y
line, which means that the conformity of
sharia principles and BMI's profitability is
low. With these results, it can be concluded
that the results of this study are relevant to
what is happening to BMI (Muchtar & Rofi,
2020).
Iin Afriani Risda in her thesis entitled
“Analisis Kinerja Keuangan Bank Syariah
Dengan Model Risk Based Bank Rating Dan
Sharia Conformity And Profitability (SCnP)
Model Di Indonesia (Periode 2013-2015)"
from this study it can be concluded that
Sharia Compliance Performance by using
Sharia Conformity and Profitability (SCnP)
Model in Islamic Commercial Banks is in
different conditions. In the final period, BRI
Syariah, BCA Syariah, Panin Syariah Bank,
Bukopin Syariah Bank and Syariah National
Pension Savings Bank had a high level of
obedience and profitability while Bank
Victoria Syariah had a high level of sharia
compliance but low profitability (Risda,
2016).
The BPD West Java Banten Syariah, BNI
Syariah, Bank Syariah Mandiri and Bank
Mega Syariah Indonesia have a low level of
sharia compliance with a high level of
profitability and Maybank Syariah
Indonesia has a level of sharia compliance
and a low level of profitability. The results
of the analysis using the model Risk-Based
Bank Rating and the Share Conformity and
Saparuddin Siregar, Mutiara Shifa | 534
Profitability model illustrate that good
financial performance does not necessarily
have good sharia compliance and vice
versa, low financial performance does not
necessarily have low sharia compliance.
Tuti Alawiyah in her thesis entitled
"Analysis of Assessment of Bank Soundness
Using the RGEC Method in State-Owned
Commercial Banks Listed on the Indonesia
Stock Exchange in 2012-2014" from this
study it can be concluded that during 2012-
2014: (1) Aspects of the Risk Profile Bank'sIn
general, SOEs are in a healthy condition
with average NPL values of 2.55%, 2.35%,
2.35%, and LDR of 85.50%, 9094%, 90.59%.
(2) The GCG aspect in 2012 was in very
healthy condition with an average score of
1.36, but in 2013 and 2014 it decreased to
2.07 and 1.78 with healthy criteria. (3)
Aspects of ROA of 3.20%, 3.29%, 3.02%, and
NIM of 6.11%, very healthy with average
CAR values of 16.70%, 15.66% and 16.44%.
(5) The overall GCG aspect is in the
Composite Rating 1 which is very healthy
with a score of 90.00%, 86.68% and 86.67%
(Alawiyah, 2016).
Figure 2. Framework Thinking
Risk profile assessment assesses the
quality of risk management
implementation in bank operational
activities. The ratios used to assess the
soundness of banks in terms of risk profile
are as follows:
Table 5. Financing Risk of State-Owned
Sharia Banks in Indonesia
Name of Bank
Perio
d
Repor
t
NPF
Rati
o
(%)
Criteri
a
PT. BRI Syariah,
Tbk
2017
3.87
%
Health
y
2018
6.73
%
Fairly
health
535 | Financial Performance Measurement Analysis of Sharia Bank Using RGEC and SCnP (Shariah
Conformity and Profitability) Model
y
2019
5.22
%
Health
y
enoug
h
PT. BNI Syariah
2017
2.89
%
Health
y
2018
2.93
%
Health
y
2019
3.33
%
Health
y
PT. Bank
MandiriSya
riah
2017
2.44
%
Health
y
2018
3.28
%
Health
y
2019
4.53
%
Health
y
Source: Annual Financial Ratio Report
In table 5 it can be seen that for three
consecutive years, BRI Syariah has a
fluctuating NPF ratio. In 2017 the NPF ratio
of PT. BRI Syariah, Tbk amounted to 3.87%,
classified as healthy because the NPF value
is smaller than 5% and large is equal to 2%.
While for 2018 and 2019, the NPF ratio of
PT. BRI Syariah, Tbk experienced an
increase in value from the previous year,
namely 6.73% and 5.22%, where the NPF of
BRI Syariah was relatively healthy because
the NPF value was small from 8% and large
equal to 5%. This describes PT. BRI Syariah,
Tbk is quite good at resolving non-
performing financing and PT. BRI Syariah,
Tbk is quite careful in distributing financing
funds to customers.
In table 5, it can also be seen that for
three consecutive years, PT. BNI Syariah
experienced an increase in the NPF ratio
but PT. BNI Syariah still maintains a healthy
NPF ratio. In 2017 NPF PT. BNI Syariah by
2.89% increased to 2.93% in 2018 and
increased the following year to 3.33%
where the NPF of PT. BNI Syariah is
classified as healthy because it has a small
NPF value of 5% and a large equal of 2%.
This illustrates that BNI Syariah is good at
resolving non-performing financing, and
banks are more careful in distributing funds
financing to customers.
Same as before, PT. Bank Mandiri
Syariah in 2017-2019 also experienced an
increase in the NPF ratio, namely in 2017,
the NPF ratio of PT. Bank Mandiri Syariah
by 2.44% increased to 3.28% in 2018 and
4.53% in 2019. Although there was an
increase in the NPF ratio of PT. Bank
Mandiri Syariah is still considered healthy
because it has a small NPF value of 5% and
a large one equal to 2%. This describes PT.
Bank Mandiri Syariah as good at resolving
non-performing financing, and PT. Bank
Mandiri Syariah is more careful in
distributing funds financing to customers.
Table 6. Liquidity Risk of State-Owned
Sharia Banks in Indonesia
Name of
Bank
Period
Report
FDR
Ratio
(%)
Criteria
PT. BRI
Syariah, Tbk
2017
71.87%
Very
healthy
2018
75.49%
Healthy
2019
80.12%
Healthy
PT. BNI
Syariah
2017
80.21%
Healthy
2018
79.6%
Healthy
2019
74.3%
Very
healthy
PT. Bank
Mandiri
Syariah
2017
77.66%
Healthy
2018
77.25%
Healthy
2019
77.54%
Healthy
Source: Annual Financial Ratio Report
Based on table 6, the FDR ratio of PT
can be seen. BRI Syariah, Tbk in 2017
received a very healthy rating. This is
because the FDR is below 75%, which
Saparuddin Siregar, Mutiara Shifa | 536
means that the lower the FDR value
indicates that the Bank is liquid and able to
meet its maturing obligations, and
conversely, the higher the FDR indicates
that a bank is less liquid, the greater the
distribution of funds in the form of
financing compared to the FDR. with
deposits or customer deposits, the greater
the risk borne by the Bank. While for 2018
and 2019, the FDR ratio of PT. BRI Syariah,
Tbk experienced an increase in value to
75.49% and 80.12%, where the FDR ratio is
considered healthy because it is above 75%
and below 85%.
For the FDR ratio of PT. BNI Syariah,
from 2017-2019 always experienced the
value of the FDR ratio. In 2017 and 2018,
the FDR value of PT. BNI Syariah has a
healthy rating of 80.21% and 79.6%, which
means PT. BNI Syariah is liquid and able to
meet maturing obligations. While for 2019
PT. BNI Syariah has a radio FDR value of
74%, categorized into a very healthy rating
which means PT. BNI Syariah is liquid and
very capable of meeting its maturing
obligations.
As for the FDR ratio at PT. Bank Syariah
Mandiri from 2017-2019 is in a healthy
rating with its value respectively 77.66%,
77.25%, and 77.54%. This means that PT.
Bank Syariah Mandiri is liquid and able to
meet its maturing obligations.
Table 7. Good Corporate
Governance BUMN Sharia Banks in
Indonesia
Name
of Bank
Period
Repor
t
Predicate
GCG
Informati
on
PT. BRI
Syariah,
Tbk
2017
2
Good
2018
2
Good
2019
2
Good
PT. BNI
2017
2
Good
Syariah
2018
2
Good
2019
2
Good
PT. Bank
Mandiri
Syariah
2017
1
Very Good
2018
1
Very Good
2019
1
Very Good
Source: Annual Financial Ratio Report
In table 7 GCG, PT. BRI Syariah, Tbk in
2017, 2018, and 2019 respectively ranked
2nd with "good" criteria, based on the
results of the self-assessment of the Bank
PT. BRI Syariah, Tbk obtained from the
corporate governance report. This proves
that in 2017, 2018, and 2019 PT. BRI Syariah,
Tbk conducts good management and
follows the principles of Good Corporate
Governance following the provisions
stipulated by Bank Indonesia Regulations.
Suppose there are weaknesses in applying
the principles of Good Corporate
Governance, in general. In that case, these
weaknesses are less significant and can be
resolved by standard actions by the
management of PT. BRI Syariah, Tbk.
For the assessment of Good Corporate
Governance PT. BNI Syariah in 2017, 2018,
and 2019 respectively ranked 2nd with
"good" criteria, based on the results of the
self-assessment of the Bank PT. BNI Syariah
obtained from the corporate governance
report. This proves that in 2017, 2018, and
2019, bank PT. BNI Syariah conducts good
management and follows the principles of
Good Corporate Governance under the
provisions stipulated by Bank Indonesia
Regulations. Suppose there are weaknesses
in applying the principles of Good
Corporate Governance, in general. In that
case, these weaknesses are less significant
and can be resolved by standard actions by
the management of PT. BNI Syariah.
As for the assessment of Good
537 | Financial Performance Measurement Analysis of Sharia Bank Using RGEC and SCnP (Shariah
Conformity and Profitability) Model
Corporate Governance at PT. Bank Syariah
Mandiri received a very healthy predicate
because Bank Syariah Mandiri had
implemented Integrated Governance which
was generally very good under the POJK in
a comprehensive manner. This is reflected
inadequate compliance with the
implementation of Integrated Governance
principles. The Board of Directors has
directed, monitored, and evaluated the
implementation of corporate governance
and carried out its duties and
responsibilities related to risk management
under the jurisdiction of the local
authorities or supervisors. The Board of
Commissioners and Directors has adequate
integrity, competence, and financial
reputation.
Table 8. ROA ratio of BUMN Islamic Banks
in Indonesia
Name of
Bank
Period
Report
Ratio
ROA
(%)
Criteria
PT. BRI
Syariah, Tbk
2017
0.51%
Fairly
healthy
2018
0.43%
Unhealthy
2019
0.31%
Unhealthy
PT. BNI
Syariah
2017
1.31%
Healthy
2018
1.42%
Healthy
2019
1.82%
Very
healthy
PT. Bank
Mandiri
Syariah
2017
0.59%
Healthy
enough
2018
0.88%
Healthy
enough
2019
1.69%
Very
healthy
Source: Annual Financial Ratio Report
Based on table 8 it can be seen that in
2017 the ROA ratio of PT. BRI Syariah, Tbk
obtained a relatively healthy rating because
the ROA ratio is below 1.5% and above
0.5%. This shows that the productivity of
BRI Syariah in managing funds to generate
maximum profits. While for 2018 and 2019,
the ROA ratio of PT. BRI Syariah, Tbk is in
the unhealthy category. This is due to a
decrease in the value of the ROA ratio from
year to year, namely 0.43% in 2018 and
0.31% in 2019. This illustrates that PT. BRI
Syariah, Tbk is less productive in managing
funds to generate maximum profit.
Based on table 8 it can also be seen
that in 2017 and 2018 the ROA of PT. BNI
Syariah obtained a healthy rating, and this
is because the ROA ratio value is below
1.5% and above 1.25%. This shows that PT.
BNI Syariah is good at managing funds so
that it generates maximum profits. For 2019
ROA PT. BNI Syariah received a very healthy
rating with a ROA ratio of 1.82%. This shows
that the productivity of PT. BNI Syariah
manages funds to generate maximum
profit is better than the previous year.
For the value of ROA RATIO at PT. Bank
Syariah Mandiri based on table 8, it can be
seen that in 2017 and 2018 ROA of PT. Bank
Syariah Mandiri received a relatively
healthy rating because the ROA ratio is
below 1.25% and above 0.5%. However, in
2019 the ROA ratio value of PT. Bank
Syariah Mandiri experienced an increase in
value from the previous year to 1.69%,
which could be categorized as very healthy.
This shows that PT. Bank Syariah Mandiri is
getting better and more productive in
managing funds to generate maximum
profits. Because the greater the value of a
bank's ROA ratios illustrate banks are
getting better at managing the assets to
generate a maximum profit of the Bank.
Table 9. BOPO Ratio of BUMN Sharia
Saparuddin Siregar, Mutiara Shifa | 538
Banks in Indonesia
Name of
Bank
Report
Period
BOPO
Ratio
(%)
Criteria
PT. BRI
Syariah,
Tbk
2017
96.80%
Unhealthy
2018
95.32%
Unhealthy
2019
95.34%
Unhealthy
PT. BNI
Syariah
2017
87.26%
Unhealthy
2018
85.37%
Fairly
healthy
2019
81.26%
Very
healthy
PT. Bank
Syariah
Mandiri
in 2017
94.44%
Unhealthy
2018
91.16%
Unhealthy
2019
82.89%
Very
healthy
Source: Annual Financial Ratio Report
Based on table 9, the ratio of ROA PT
can be seen. BRI Syariah, Tbk from 2017 to
2019 was ranked as unhealthy because the
BOPO ratio was small of 89%. The BOPO
ratio is a ratio that describes the Bank's
ability to carry out its operational activities.
The higher the BOPO value of a bank, the
greater the costs incurred by the Bank in its
operational process.
For the value of the BOPO ratio at PT.
BNI Syariah from table 9 shows that from
2017 to 2019, it continued to experience a
decline in the value of the BOPO ratio,
namely 87.26%, 85.37%, and 81.26%,
respectively. This shows PT. BNI Syariah is
getting better at reducing costs incurred in
operational activities. The lower it means,
the more efficient the operational costs
incurred by the Bank concerned so that the
possibility of the Bank in troubled
conditions is getting smaller.
The value of the BOPO ratio of PT. Bank
Syariah Mandiri, based on table 9 above,
shows the value of the BOPO ratio from
2017 to 2018 has decreased in value.
However, the value of the BOPO ratio PT.
Bank Syariah Mandiri is still in the unhealthy
category. Meanwhile, in 2019 the value of
the BOPO ratio also experienced a
significant decrease from the previous year
to 82.89%. This shows that PT. Bank Syariah
Mandiri in 2019 was very efficient in
managing costs incurred in bank
operational activities. The lower the value
of the BOPO ratio means the more efficient
the operational costs incurred by the Bank
concerned. The possibility of the Bank
being in a problematic condition is getting
smaller.
Table 10. CAR Ratio of BUMN Islamic
Banks in Indonesia
Name of
Bank
Period
Report
Ratio
CAR(%)
Criteria
PT. BRI
Syariah, Tbk
2017
20.05%
Very
healthy
2018
29.73%
Very
healthy
2019
25.26%
Very
healthy
PT. BNI
Syariah
2017
20.14%
Very
healthy
2018
19.31%
Very
healthy
2019
18.88%
Very
healthy
PT. Bank
Mandiri
Syariah
2017
15.89%
Very
healthy
2018
16.26%
Very
healthy
2019
16.15%
Very
healthy
Source: Annual Financial Ratio Report
Based on table 10, it can be seen that
the CAR ratio value of PT. BRI Syariah, Tbk
from 2017 to 2019 received a very healthy
rating because the CAR ratio value was
above 12%, which shows that the capital
owned by PT. BRI Syariah, Tbk can
539 | Financial Performance Measurement Analysis of Sharia Bank Using RGEC and SCnP (Shariah
Conformity and Profitability) Model
anticipate the risk of financing losses.
Based on table 10, it can also be seen
that the value of the CAR ratio of PT. BNI
Syariah, from 2017 to 2019, received a very
healthy rating because the CAR ratio was
above 12%. This shows that the capital
owned by BNI Syariah can anticipate the
risk of financing losses.
Similarly, based on table 10, it can be
seen that the CAR ratio value of PT. Bank
Syariah Mandiri from 2017 to 2019 received
a very healthy rating because the CAR ratio
was above 12%, this shows that the capital
owned by Bank Syariah Mandiri can
anticipate the risk of credit losses.
Based on the descriptive data for
measuring the financial performance of
BUMN Sharia Commercial Banks in
Indonesia using the RGEC method above,
the following is a recapitulation of the
soundness of BUMN Sharia Commercial
Banks for the 2017-2019 period based on
the RGEC method.
Table 11. Recapitulation of Composite
Ratings of State-Owned Sharia
Commercial Banks for the 2017-2019
Period Based on the RGEC Method
commerc
ial banks
Sharia
The Period
2017
2018
2019
PT. BRI
Syariah,
Tbk
PK 3
(Enough
Healthy)
PK 3
(Enough
Healthy)
PK 3
(Healthy
Enough)
PT. BNI
Syariah
PK 2
(Healthy)
PK 2
(Healthy)
PK 1
(Very
Healthy)
PT. Bank
SyariahM
andiri
PK 2
(Healthy)
PK 2
(Healthy)
PK 1
(Very
Healthy)
Source: Annual Financial Ratio Report
Based on table 4.16 recapitulation of
the composite rating of BUMN Sharia
Commercial Banks for the 2017-2019
period, it can be seen that PT. BRI Syariah,
Tbk during 2017-2019 was at composite
level 3, which was categorized as a bank in
a reasonably healthy condition. This reflects
that the Bank's condition is generally
healthy enough to face significant effects
adverse from changes in business
conditions and other external factors. In the
table above, it can be seen that PT. BRI
Syariah, Tbk in the last three years did not
experience an increase in performance
when measured by the RGEC method, in
contrast to the other two banks, which
experienced an increase in the last year.
For PT. BNI Syariah in 2017-2018 was
at composite level 2, which was categorized
as a bank in a healthy condition. This
reflects the condition of the Bank, which is
generally healthy. It is considered capable
of facing significant adverse effects from
business conditions and other external
factors, however, for PT. BNI Syariah, in the
2019 period, experienced an increase in
performance so that it was at composite
level 1, which was categorized as a very
healthy bank. This reflects the condition of
the Bank, which is generally very healthy, so
it is considered capable of dealing with
significant adverse effects from changes in
business conditions and other external
factors.
It is the same with PT. BNI Syariah at
PT. Bank Syariah Mandiri in 2017-2018 was
at composite level 2, which was categorized
as a bank in a healthy condition. This
reflects the condition of the Bank, which is
generally healthy so that it is considered
capable of facing significant adverse effects
from changes in business conditions and
other external factors. For PT. Bank Syariah
Saparuddin Siregar, Mutiara Shifa | 540
Mandiri in the 2019 period experienced an
increase in performance so that it was at
composite level 1, which was categorized
as a very healthy bank. This reflects the
condition of the Bank, which is generally
very healthy, so it is considered capable of
dealing with significant adverse effects
from changes in business conditions and
other external factors.
Financial performance based on
aspects is sharia conformity and
profitability divided into two variables,
namely sharia conformity variable, and
variable profitability. The variable sharia
conformity consists of the ratio of Islamic
investment (), Islamic income, Islamic
income (), and profit-sharing profit sharing
(ratio). In contrast, the variable profitability
consists of ROA, ROE, and profit margin. In
the table above, the research object in the
form of state-owned Islamic banks in
Indonesia in 2017-2019 has good
performance. This can be seen in the ratio
of Islamic investment all banks obtaining
the same achievement of 1 or 100%.
In comparison, BNI Syariah in 2018
obtained the achievement highest of 1 or
100% for sharia income. The profit-sharing
ratio for BRI Syariah in 2019 obtained the
highest score of 0.421 or 42.10%. In the
aspect of profitability measured by the
ROA, ROE, and ratios, the profit margin
results obtained that BNI Syariah in 2019
had the ROA value highest of 1.82%, while
the ROE ratio and profit margin of Bank
Syariah Mandiri had the value highest,
namely ROE of 15.66% and profit margin of
12.40% means the ability of Islamic Banks
in 2019 to generate high net profits from
other banks.
The results of the study show that the
state-owned Islamic banks in Indonesia
that are the object of this study that have
high income or profitability are Islamic
commercial banks with high ratios profit-
sharing, while Islamic commercial banks
that have low profitability tend to have low
profit-sharing ratios. . This is because
Islamic commercial banks are channeling
more financing with a profit-sharing
system, their income is higher. If it is
explored more deeply, the income
obtained by the profit-sharing system will
be greater than the income obtained from
the sale and purchase or other contracts,
although with a relatively high risk. This
follows the axiom of financial management
high-risk, high return.
BRI Syariah in 2017 was in the lower left
quadrant of the Bank, which indicates the
Bank has a low level of compliance with
sharia principles and profitability among
other BUMN Islamic Banks. Meanwhile, BRI
Syariah in 2018 and 2019 is in the Lower
Right Quadrant, which indicates that BRI
Syariah in 2018 and 2019 has a high level of
sharia compliance but low profitability.
BNI Syariah in 2017 and 2018 is in the
Upper Left Quadrant (ULQ) position, which
means that BNI Syariah has a low level of
sharia compliance with a high level of
profitability in sharia financial performance.
BNI Syariah is in sharia financial
performance, which is quite good in
obtaining Islamic investment, Islamic
income, and profit-sharing. At the level of
profitability, BNI Syariah managed to
obtain a pretty good performance; this is
evidenced by the achievement of the value
of profitability BNI Syariah, which was
7.33% and 7.71% higher than the average
value of other Islamic commercial banks,
541 | Financial Performance Measurement Analysis of Sharia Bank Using RGEC and SCnP (Shariah
Conformity and Profitability) Model
which was 5.52%. Meanwhile, BNI Syariah in
2019 is in the upper right quadrant, which
indicates that BNI Syariah in 2019 has a
high level of sharia compliance and high
profitability. It can be seen that from the
last three years, BNI Syariah has increased
both in terms of sharia and in terms of
finance.
Bank Syariah Mandiri in 2017 was in
the Upper Left Quadrant (LLQ) position,
which means that BSM has a low level of
sharia compliance and profitability in sharia
financial performance, and 2018 is in the
Upper Right Quadrant (LRQ) position,
which means that BSM has a high level of
sharia compliance and profitability. Low on
Islamic financial performance. For 2019, the
position of the level of sharia compliance
and the level of profitability increased in
value, which made BSM in 2019 be in the
Upper Right Quadrant, which indicates that
BSM in 2019 has a high level of sharia
compliance and a high level of profitability
compared to other BUMN sharia banks in
Indonesia.
PT. BRI Syariah, Tbk in the last three
years, has not experienced an increase in
performance when viewed from the RGEC
composite level, which is still in the
category of a reasonably healthy bank. In
contrast to the SCP model, it describes that
PT. BRI Syariah, Tbk, in 2017 to 2018,
experienced an increase in shariah
conformity, which indicates an increase in
sharia conformity at PT. BRI Syariah, Tbk
from Lower Left Quadrant to Lower Right
Quadrant. The value of shariah conformity
PT proves this. BRI Syariah, Tbk, which has
increased successively with a value of
77.45%, 79.97%, and 80.81%. However, in
terms of profitability, the SCnP Model
shows that PT. BRI Syariah, Tbk has a low
profitability value and if assessed by the
RGEC method.
For PT. BNI Syariah, when viewed from
the composite level of the RGCE method,
experienced an increase in performance in
2017 and 2018 PT. BNI Syariah is at
composite level 2 or PT. BNI Syariah is
categorized in a healthy condition and
increased in 2019 to a composite rating of
1, or a bank is categorized as a bank in very
healthy condition. Similar to the SCP
model, on the side shariah conformity, PT.
BNI Syariah increased from Upper Left
Quadrant in 2017 and 2018 to Upper Right
Quadrant in 2019 with a value of shariah
conformity which successively increased
each year, namely 74.38%, 76.38%, and
78.41%. While in terms of profitability in the
SCnP model PT. BNI Syariah is at a high
level of profitability.
For PT. Bank Syariah Mandiri, when
viewed from the composite level of the
RGCE method, experienced an increase in
performance which. In 2017 and 2018, Bank
Syariah Mandiri was at composite level 2,
Bank Syariah Mandiri was categorized as
healthy and increased in 2019 to composite
rank 1, or the Bank was categorized as a
bank in very healthy condition. Similar to
the SCP model, on the side shariah
conformity, PT. BNI Syariah increased from
Lower Left Quadrant in 2017 became Lower
Right Quadrant in 2018 and Upper Right
Quadrant in 2019 with a value of shariah
conformity which successively increased
each year, namely 77.89%, 76.81%, and
79.08%. While in terms of profitability in the
SCnP model, Bank Syariah Mandiri
experienced an increase in low profitability
in 2017 and 2018 increasing to high
Saparuddin Siregar, Mutiara Shifa | 542
profitability in 2019 with profitability values
of 3.59%, 5.20%, and 9.92%, respectively.
From the explanation above, a bank
with a composite level of 2 and 1 or a
healthy bank according to the RGEC
method will be reflected in the SCP
diagram, which shows the upper
profitability (URQ/ULQ). Meanwhile, the
high or low level of sharia compliance
(LLQ/ULQ) of a bank cannot be seen in the
RGEC method. Therefore, based on the
discussion above, it can be seen that Islamic
banks that have a high composite rating
based on the RGEC method will be in the
ULQ or URQ quadrant in the SCnP Model.
CONCLUSIONS
BRI Syariah, Tbk in 2017, 2018, and
2019 using the RGEC method are at
composite rank 3, or the Bank is in
reasonably healthy condition. While the
performance measurement of PT. BRI
Syariah, Tbk using the SCnP model in 2017
is in the Lower Left Quadrant, which means
that BRI Syariah has low profitability and
compliance with sharia. For 2018 and 2019,
BRI Syariah is in the Lower Right Quadrant,
which means that BRI Syariah has a low
level of profitability but a high level of
sharia compliance. Measurement of the
financial performance of PT. BNI Syariah
with RGEC method in 2017 and 2018 was
ranked the second composite that the
banks are in good health. Then the
measurement of the financial performance
of PT. BNI Syariah with the RGEC method in
2019 was in composite rank 1. Namely, the
Bank is in a very healthy condition. BNI
Syariah, if measured by the RGEC method,
the Bank is growing well from year to year.
While the performance measurement of PT
BNI Syariah using the SCnP model in 2017
and 2018 is in the Upper Left Quadrant,
which means that BNI Syariah has a high
level of profitability but a low level of sharia
compliance. For 2019, BNI Syariah is in the
Upper Right Quadrant, which means that
BNI Syariah in 2019 has a high level of
profitability and compliance with sharia.
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