Altman Z-Score Model to Analyze Bankruptcy of Islamic Commercial Bank POJK No. 12/POJK.03/2020

Abstract

Penelitian ini bertujuan untuk menganalisis kinerja keuangan Bank Syariah BUKU 1 dengan adanya Peraturan OJK Nomor 12/POJK.03/2020 tentang Konsolidasi Bank Umum yang menetapkan modal inti bank minimal Rp 3 triliun pada 2022. Penelitian ini menggunakan metode analisis data Z-Score untuk memprediksi kebangkrutan dengan sampel PT Bank Syariah Bukopin, PT Bank Victoria Syariah, PT Bank Aladin Syariah Tbk. Hasil perhitungan Z-Score digunakan untuk memperbaiki kinerja keuangan agar menarik minat investor dan menentukan strategi peningkatan modal inti agar sesuai ketentuan POJK tentang konsolidasi bank umum. Bank dapat menentukan strategi yang penulis sarankan untuk memenuhi ketentuan POJK antara lain : 1) Penggabungan, peleburan, atau integrasi 2) Pengambilalihan bank 3) Peningkatan modal inti minimum melalui penerbitan saham baru (right issue) bagi bank yang sudah listed di Bursa Efek Indonesia, penambahan modal inti dari bank induk, penambahan modal inti dari investornya bank induk atau melakukan penjajagan investor baru baik dari dalam negeri ataupun luar negeri.Kata kunci : Altman Z-Score; Kebangkrutan; Konsolidasi Bank ABSTRACK This study aims to analyze the financial performance of Islamic Banks BOOK 1 with the existence of Financial Fervices Authority (OJK) Regulation No. 12/POJK.03/2020 concerning Commercial Bank Consolidation which stipulates a bank's core capital of at least IDR 3 trillion in 2022. This study employed the Z-Score data analysis method to predict bankruptcy by taking samples of PT Bank Syariah Bukopin, PT Bank Victoria Syariah, and PT Bank Aladin Syariah Tbk. The results of the Z-Score calculation are used to improve financial performance in order to attract investors and determine a strategy for increasing core capital to comply with the POJK provisions on commercial bank consolidation. Banks can determine the strategy that the author recommends to comply with the POJK provisions, including: 1) Merger, consolidation, or integration 2) Bank takeover 3) Increase in minimum core capital through the issuance of new shares (right issue) for banks that have been listed on the Indonesia Stock Exchange, additional core capital from the parent bank, or exploration of new investors both from within the country and abroad