Ujrah and istishna income as drivers of profitability: Evidence from a post-merger of Bank Syariah Indonesia (BSI) 2023-2024
DOI:
https://doi.org/10.33021/jaaf.v10i1.6459Keywords:
ujrah, istishna, ijarah, Islamic banking, profitability, ROA, Bank Syariah Indonesia.Abstract
This study examines the effect of ujrah income and istishna income on the profitability of Bank Syariah Indonesia (BSI), proxied by Return on Assets (ROA), from January 2023 to December 2024. This study addresses the research gap concerning the specific impact of ujrah and istishna income on Islamic bank profitability, particularly within the post-merger context of BSI. Using 24 monthly observations from BSI’s published financial reports, ujrah income is operationalized as cumulative year-to-date net ijarah income (Ujrah_YTD), while istishna income is measured as cumulative istishna sales income. The empirical model is estimated using multiple linear regression. Classical assumption tests confirm the validity of the model. Regression results indicate that both ujrah income and istishna income positively and significantly affect ROA. Jointly, these variables significantly explain the profitability of BSI. This study contributes to the literature by providing empirical evidence on the distinct roles of ujrah and istishna income in driving Islamic bank profitability. The findings suggest that strengthening ujrah income and optimizing istishna products can improve profitability, accompanied by prudent risk management and operational efficiency.
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