ANALISIS PREDIKSI KEBANGKRUTAN PERBANKAN BERDASARKAN MODEL ALTMAN’S Z-SCORE PADA PT. BANK RAKYAT INDONESIA (PERSERO), Tbk

Abstract

The Research ais to determine and to analyze the level of the company’sfinancial performance, predicting bankruptcy using altman Z-Score. The problem that is this research is how the level of financial performance predicting bankruptcy based on Altman Z-Score model. This study uses secondary data that is the annual financial statement published by bank. The source data used this study form PT. Bank Rakyat Indonesia(Persero), Tbk, in the form of financial statements in 2005-2008. The bankruptcy prediction analysis based on Altman Z-Score uses 5 ratios that can be combined to see the difference between healty companies abd the companies that will have problems or bankruptcy. Ratios include : (1) Working capital to total asset ratio, (2) Retained earning to total assets ratio, (3) Earning before interst and taxes to total assset ratio, (4) Market value of equity to total debt ratio, (5) Sales to total assets ratio. He result of this study shows that for 3 consecutive years the value of Altman Z-Score owned by Pt. Bank Rakyat Indonesia (Persero), Tbk is still below 1,2 that are 0,471, 0,450, 0,421, and 0,377. it means that the company is in condition to face the threat of bankruptcy. But the implementation of banking in Indonesia, has many policies of the goverment and many factors thatinfluence it so that the banks taht are predicted to go bankruptcy still run the banking operations. Key word : Bankruptcy, Banking, Altman Z-Score Method.