ANALYSIS OF FACTORS INFLUENCING NON-PERFORMING LOANS IN BANKS LISTED ON THE INDONESIA STOCK EXCHANGE
Keywords:
Banking Performance; Banking Ratios; Generalized Method of Moments (GMM); Non-Performing Loans (NPL)
Abstract
Non-performing loans (NPLs) represent a systemic risk that threatens financial stability and the efficiency of capital allocation. Therefore, identifying their determinants is essential for the Indonesian banking system. This study aims to analyze the factors affecting non-performing loans in Indonesian banks. Secondary data were obtained from the annual reports of banks listed on the Indonesia Stock Exchange during the 2021–2025 period. The sample consisted of 44 banks, resulting in 220 observations selected using purposive sampling. The data were analyzed using dynamic panel data regression with EViews software. The independent variables included Return on Assets (ROA), Capital Ratio (CAP), Credit Growth, GDP Growth Rate, Inflation Rate, Lagged NPL Ratio, and Bank Size. The results indicate that the Lagged NPL Ratio and ROA have a positive effect on non-performing loans, while CAP, Credit Growth, GDP Growth Rate, Inflation Rate, and Bank Size have no significant effect on non-performing loans. Based on these findings, bank managers are encouraged to strengthen credit risk management, while investors should consider these factors in making investment decisions. Future research is recommended to improve the model specification and incorporate additional variables, such as bank liquidity, to provide more comprehensive results.
References
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Chun, S.-H., & Ardaaragchaa, N. (2024). Analysis of factors affecting the loan growth of banks with a focus on non-performing loans. Journal of Risk and Financial Management, 17(5), 203. https://doi.org/10.3390/jrfm17050203
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Dwitama, A., & Hasanudin. (2024). The influence of loan growth, loan to assets, and size on return assets through non-performing loans in banking companies. E-Jurnal Apresiasi Ekonomi, 12(3), 613–632. https://doi.org/10.31846/jae.v12i3.837
Erdas, M. L., & Ezanoglu, Z. (2022). How do bank-specific factors impact non-performing loans: Evidence from G20 countries. Journal of Central Banking Theory and Practice, 11(2), 97–122. https://doi.org/10.2478/jcbtp-2022-0015
Erdiningrum, E. L., & Satria, D. (2025). Determinants of non-performing loans in Indonesian publicbanks: A case study of Covid-19 pandemic. Contemporary Studies in Economic, Finance, and Banking, 4(1), 162–175. https://doi.org/10.21776/csefb.2025.04.1.13
Frésard, L., & Phillips, G. M. (2024). Product markets, competition, and corporate finance: A review and directions for future research. In D. J. Denis (Ed.), Handbook of Corporate Finance (pp. 591–646). Edward Elgar Publishing. https://doi.org/10.4337/9781800373891.00026
Giannoulakis, M. (2025). Non-performing loans determinants: A new behavioural approach (99; GPERC Working Paper).
Gulati, R., Goswami, A., & Kumar, S. (2018). What drives credit risk in the Indian banking industry? An empirical investigation. Economic Systems, 43(1), 42–62. https://doi.org/10.1016/j.ecosys.2018.08.004
Gultom, Y. A., Muchtar, M., & Sihombing, P. R. (2025). VAR analysis: Association between non-performing loan, housing price, economic indicators, and mortgage. Jurnal Akuntansi Dan Keuangan Indonesia, 22(1), 84–107. https://doi.org/10.7454/jaki.v22i1.1994
Hada, T., Bărbuță-Mișu, N., Iuga, I. C., & Wainberg, D. (2020). Macroeconomic determinants of nonperforming loans of Romanian banks. Sustainability, 12(18), 7533. https://doi.org/10.3390/su12187533
Hakimi, A., Saidi, H., & Adili, L. (2025). Does financial inclusion affect non-performing loans and liquidity risk in the MENA region? A comparative analysis between GCC and non-GCC countries. Economies, 13(5), 143. https://doi.org/10.3390/economies13050143
Hakimi, A., Saidi, H., & Saidi, S. (2025). Do board characteristics affect non-performing loans? GCC vs. Non-GCC insights. International Journal of Financial Studies, 13(2), 101. https://doi.org/10.3390/ijfs13020101
Harimurti, C., Pandoyo, & Sofyan, M. (2022). Factors affecting non-performing loans in state-owned banking. International Journal of Economics, Business and Accounting Research (IJEBAR), 6(2), 958–968. https://doi.org/10.29040/ijebar.v6i2.5273
Kalimoldayev, A., Popova, Y., Cernisevs, O., & Popovs, S. (2025). Impact of macro factors on NPLs in the banking industry of Kazakhstan. Journal of Risk and Financial Management, 18(8), 431. https://doi.org/10.3390/jrfm18080431
Kalkan, G. (2025). The impact of non-performing loans on bank profitability: Evidence from Turkiye. Public Governance, Administration and Finances Law Review, 10(1), 121–136. https://doi.org/10.53116/pgaflr.8114
Kamau, S., & Simo-Kengne, B. D. (2025). Diversification and banks’ funding costs in Africa: The role of financial regulations. South African Journal of Economic and Management Sciences, 28(1), 5809. https://doi.org/10.4102/sajems.v28i1.5809
Kawakibi, A. A., & Mustikowati, R. I. (2025). The effect of interest rates and inflation on credit demand through non-performing loans: A study of banks listed on the IDX. Brilliant International Journal of Management and Tourism, 5(3), 155–172. https://doi.org/10.55606/bijmt.v5i3.5836
Keeton, W. R., & Morris, C. S. (1987). Why do banks’ loan loss differ? Economic Review, 72(3), 3–21.
Khoirunisa, H., & Karnasi, R. (2023). Factors affecting non-performing loans of conventional banking in Indonesia Stock Exchange. Inisiatif: Jurnal Ekonomi, Akuntansi Dan Manajemen, 2(2), 31–55. https://doi.org/10.30640/inisiatif.v2i2.688
Kim, D., & Sohn, W. (2017). The effect of bank capital on lending: Does liquidity matter? Journal of Banking & Finance, 77(C), 95–107. https://doi.org/10.1016/j.jbankfin.2017.01.011
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Published
2026-10-15
How to Cite
Yunika, H., & Chandra, K. (2026). ANALYSIS OF FACTORS INFLUENCING NON-PERFORMING LOANS IN BANKS LISTED ON THE INDONESIA STOCK EXCHANGE. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 10(3), 543-566. https://doi.org/10.31955/mea.v10i3.7863
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