Pengaruh Fintech, Produk Domestik Bruto, dan Penanaman Modal Dalam Negeri terhadap Kinerja Keuangan Bank BUMN dengan Pendekatan Economic Value Added Tahun 2008-2023

Abstract. The financial performance of state-owned banks (Bank BUMN) faces challenges in creating sustainable economic value. Measurement using Economic Value Added (EVA) is considered superior because it incorporates the cost of capital, reflects capital utilization efficiency, and aligns the interests of management and shareholders through a value-creation focus. EVA performance is influenced by both internal and external factors, particularly fintech development, Gross Domestic Product (GDP), and Domestic Investment (PMDN). Fintech promotes financial inclusion but intensifies digital competition that pressures bank profitability. GDP growth reflects macroeconomic conditions affecting credit demand, while PMDN plays a role in expanding real sector financing and strengthening banking liquidity. This study analyzes the effects of fintech, GDP, and PMDN on the financial performance of state-owned banks during the 2008–2023 period using the EVA approach. Secondary data from BRI, BNI, BTN, and Mandiri are analyzed using panel data regression with the Random Effect Model (REM). The results indicate that fintech has a significant negative effect on EVA, GDP has no significant effect, while PMDN has a significant positive effect. The model explains 68.46% of the variation in EVA attributable to these three variables. Abstrak. Kinerja keuangan Bank BUMN menghadapi tantangan dalam menciptakan nilai tambah ekonomi yang berkelanjutan. Pengukuran menggunakan Economic Value Added (EVA) unggul karena memperhitungkan biaya modal, mencerminkan efisiensi penggunaan modal, serta menyelaraskan kepentingan manajemen dan pemegang saham melalui fokus penciptaan nilai. Kinerja EVA dipengaruhi oleh faktor internal dan eksternal, khususnya perkembangan fintech, Produk Domestik Bruto (PDB), dan Penanaman Modal Dalam Negeri (PMDN). Fintech mendorong inklusi keuangan, namun meningkatkan persaingan digital yang menekan profitabilitas bank. Pertumbuhan PDB mencerminkan kondisi makroekonomi yang memengaruhi permintaan kredit, sedangkan PMDN berperan dalam memperluas pembiayaan sektor riil dan memperkuat likuiditas perbankan. Penelitian ini menganalisis pengaruh fintech, PDB, dan PMDN terhadap kinerja keuangan Bank BUMN periode 2008–2023 dengan pendekatan EVA. Data sekunder dari BRI, BNI, BTN, dan Mandiri dianalisis menggunakan regresi data panel Random Effect Model (REM). Hasil menunjukkan fintech berpengaruh negatif signifikan terhadap EVA, PDB tidak berpengaruh signifikan, sementara PMDN berpengaruh positif signifikan. Model mampu menjelaskan 68,46% variasi EVA dapat dijelaskan oleh ketiga variabel tersebut.