Table 2

Pairwise correlation matrix: conventional banks

ROADIVCAPSTRDIV*CA-PSTRSizeCRLRCEICRCovid-19INFGDP
ROA1.0000           
DIV0.5528* (0.0000)1.0000          
CAPSTR0.7373* (0.0000)−0.7394* (0.0000)1.0000         
DIV*CAP-STR0.5980* (0.0000)−0.5184* (0.0000)0.7348* (0.0000)1.0000        
Size−0.0318 (0.3600)−0.0512 (0.1400)−0.1025* (0.0031)0.0116 (0.7390)1.0000       
CR−0.1814* (0.0000)−0.5246* (0.0000)0.5307* (0.0000)0.4664 (0.0000)−0.1499* (0.0000)1.0000      
LR−0.0823* (0.0176)0.1583* (0.0000)−0.0672 (0.0525)−0.0840* (0.0154)−0.1312* (0.0001)0.1134* (0.0010)1.0000     
CE−0.3110* (0.0000)−0.3831* (0.0000)−0.0858* (0.0133)−0.0846* (0.0182)−0.0370 (0.2865)−0.0871* (0.0120)0.0285 (0.4119)1.0000    
ICR0.0836* (0.0158)0.0300 (0.3881)0.0447 (0.1976)0.1147* (0.0009)0.0836* (0.0158)0.0874* (0.0116)−0.0108 (0.7564)−0.1159* (0.0008)1.0000   
Covid-19−0.0140 (0.6867)0.0079 (0.8194)−0.0023 (0.9466)0.0092 (0.7900)0.0048 (0.8901)0.0083 (0.8120)0.0522 (0.1323)−0.0031 (0.9280)0.2087* (0.0000)1.0000  
INF−0.2504* (0.0000)0.4992* (0.000)−0.2130* (0.0000)0.1172* (0.0007)0.1099* (0.0015)0.1133* (0.0011)0.1077* (0.0026)−0.7660* (0.0000)0.1065* (0.0021)−0.0045 (0.8961)1.0000 
GDP0.0578 (0.0959)0.0891* (0.0102)−0.1308* (0.0002)0.0111 (0.7500)0.0039 (0.9098)−0.1246* (0.0003)−0.1434* (0.0000)−0.2426* (0.0000)0.0785* (0.0236)−0.0159 (0.6465)0.2383* (0.0000)1.0000

Note(s): * denotes significance at 5%

Source(s): Table created by authors

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