Title:


Analysis of Islamic Banks’ Merger in Indonesia


Author:


Mail Fitri Mareta(1*)
Mail Heliani Heliani(2)
Mail Siti Elisah(3)
Mail Andini Ulhaq(4)
Mail Indri Febriani(5)

(1) Universitas Nusa Putra, Indonesia
(2) Universitas Nusa Putra, 
(3) Universitas Nusa Putra, 
(4) Universitas Nusa Putra, 
(5) Universitas Nusa Putra, 
(*) Corresponding Author
10.31002/rn.v4i2.3672| Abstract views : 0 | PDF views : 0

Abstract


Islamic bank is a bank that collects funds from the public by using system profit sharing for every profit it gets and in carrying out its activities in accordance with Islamic law. Remembering that in Indonesia most of the population is Muslim, therefore they need a bank that works in accordance with Islamic law. Considering the number of percentages of Islamic banks in Indonesia are still small and cannot yet dominate the market share, therefore this research is expected to find out whether the merging of 3 Islamic banks (BRIS, BSM and BNIS) able to control market share or not. To see the synergy resulting from this merger is used methods Discounted Cash Flow - Free Cash Flow to Equity and Relative Valuation - Price to Book Ratio. The data used are the financial statements of each bank from 2014 to 2019 which are available on the Indonesia Stock Exchange (IDX) or the websites of each bank.


Keywords


CPAM; FCFE; Islamic Bank; Merger; PVB

Full Text:

PDF

References


Anggelopoulos, E. (2017). Understanding Bank Valuation: An Application of the Equity Cash Flow and the Residual Income Approach in Bank Financial Accounting. Open Journal of Accounting. 6(1): 1-10.

Badan Pusat Statistik. 2010. Penduduk Menurut Wilayah dan Agama yang Dianut. Retrieved on November, 11th 2020.

Bank Indonesia. (2020). Bank Syariah Gambaran Umum. Retrieved on 08th November 2020.

BNI Syariah. (2020). Sejarah BNI Syariah. Retrieved on 8th November 2020.

Damodaran, Aswath. (2002). Country Default Spreads and Risk Premiums. Retrieved on 26th November 2020.

Hanafi, Mamduh. (2004). Manajemen Keuangan. BPFE; Yogyakarta

Husnan, S. (2010). Dasar-dasar teori portofolio dan analisis sekuritas. Yogyakarta : UPP STIM YKPN.

IDX. (2020). Financial Statement 2019 Tahunan BRIS. Retrieved on 28th November 2020.

Mandiri Syariah. (2020). Laporan Keuangan Tahunan 2019. Retrieved on 08th November 2020.

Media Sumutku. (2020). Tingkat Penetrasi Aset Syariah Masih Dibawah 8 Persen. Retrieved on 12th November 2020.

Otoritas Jasa keuangan. (2020). Sejarah Perbankan Syariah. Retrieved on 11th November 2020.

Pemerintah Indonesia. Undang-Undang Republik Indonesia Nomor 10 Tahun 1998 Tentang Perbankan (1998).

Ross, S. A., Westerfield, R. & Jaffe, J. F. (2012). Corporate Finance. New York: The McGrawHill Companies

Sheridan Titman, Arthur J. Keown & John D. Martin.(2018). Financial Management: Principles and Applications, 13th Edition. United Kingdom: Pearson Education Limited.

Wiratmini, Ni Putu Eka. (2020). Mau Merger, Begini Perbandingan Kinerja Tiga Bank Syariah BUMN. Retrieved on 21st November 2020.




DOI: http://dx.doi.org/10.31002/rn.v4i2.3672

Article Metrics

Abstract view : 0 times
PDF - 0 times

Cited By

Refbacks

  • There are currently no refbacks.


Copyright (c) 2021 Jurnal REKOMEN (Riset Ekonomi Manajemen)

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

 
   
 Program Studi Manajemen Fakultas Ekonomi Universitas Tidar

Creative Commons License
Jurnal REKOMEN (Riset Ekonomi Manajemen) is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.