The Impact of Green Banking, Corporate Governance, and CSR on Financial Performance: Evidence from KBMI 3 and KBMI 4 Banks in Indonesia

Shafia Ulya; Augustina  Kurniasih

doi:10.59890/ijgsr.v4i9.331

Authors

Shafia Ulya Universitas Mercu Buana
Augustina Kurniasih Universitas Mercu Buana

DOI:

https://doi.org/10.59890/ijgsr.v4i9.331

Keywords:

Green Banking, Corporate Governance, Corporate Social Responsibility, Financial Performance, KBMI Banks

Abstract

Financial performance reflects a bank's operational efficiency and systemic stability. Following regulatory shifts under POJK No. 12/POJK.03/2021, KBMI 3 and KBMI 4 banks face pressures to integrate sustainability and governance into their business models. This study investigates the impact of Green Banking, Corporate Governance, and Corporate Social Responsibility on banking financial performance. Using a quantitative causal approach, secondary data were gathered from annual and sustainability reports of KBMI 3 and KBMI 4 banks listed on the Indonesia Stock Exchange from 2020 to 2024. The population comprised 16 banking firms, and a full sampling method yielded 80 observations. Data were analyzed using panel data regression with the Random Effect Model via EViews 14. The results demonstrate that Green Banking, measured by the Green Banking Disclosure Index, has a positive and significant effect on Return on Assets. Corporate Governance, proxied by Board Gender Diversity, shows no significant effect on financial performance. Conversely, Corporate Social Responsibility, measured by the CSR expenditure ratio, has a negative and significant effect on Return on Assets. These findings highlight that green disclosure enhances efficiency and stakeholder trust, whereas short-term CSR expenses act as direct operational costs

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