Note(s): ***p < 0.01, **p < 0.05, *p < 0.1

Figures in brackets are standard errors. ***, ** and * indicates statistical significance at 1%, 5% and 10%, respectively. Robust standard errors are in parentheses

The table shows the panel regression results using equation (2), using an alternative dependent variable of loan loss provision. Loan loss variables is scaled using operating profits and regressed with the independent variables, deposit concentration (T20DEP), credit-to-deposit ratio (CDR), current account and savings account ratio (CASAR), net nonperforming assets ratio (NNPAR), scaled lending to sensitive sectors (LSS), scaled priority sector lending (SPRIO), scaled unsecured loan (USL), natural log of total assets (NLTA), growth in gross domestic product (GDPR), benchmark repo rate (REP) and cash to total assets (CTA). Deposit concentration (T20D) is the key variable of interest. Columns (1) and (2) are the random effects model with time fixed effects and without time fixed effects