ROA ROE NIM PBT
Lagged ROA 0.312***
(0.0705)
Lagged ROE 0.334***
(0.0794)
Lagged NIM 0.278***
(0.0294)
Lagged PBT 0.179***
(0.0546)
Liquidity Risk -0.229***
(0.0546)		 -0.091***
(0.0098)		 -0.044***
(0.0049)		 0.352***
(0.1292)
Bank Competition
(Lerner index)		 0.560***
(0.1396)		 0.336***
(0.1055)		 0.141**
(0.0686)		 2.949***
(1.0027)
Diversification 0.087***
(0.0021)		 -0.088***
(0.0031)		 -0.161***
(0.0511)		 0.007
(0.0605)
Capitalizationa -0.421***
(0.0918)		 -0.013***
(0.0047)		 0.011***
(0.0015)		 -0.001
(0.0141)
Bank Size -0.090***
(0.0096)		 -0.063*
(0.0051)		 0.084***
(0.0046)		 0.014
(0.0093)
Labour Productivity 0.066
(0.0098)		 0.282***
(0.0817)		 0.201***
(0.1110)		 0.227***
(0.0296)
GDP Growth -2.3568***
(1.0254)		 -8.916***
(3.0874)		 -3.393***
(1.0549)		 -9.442***
(3.0761)
Inflation 0.361***
(0.0758)		 0.288***
(0.0453)		 -0.157***
(0.0589)		 0.381***
(0.0956)
Stock Market Capital 0.056***
(0.0103)		 -0.023*
(0.0128)		 0.003
(0.0636)		 0.227***
(0.0584)
Financial Freedom 0.004***
(0.0066)		 0.024***
(0.0071)		 0.011***
(0.0050)		 -0.029***
(0.0066)
Constant -2.55***
(0.1698)		 0.788**
(0.0021)		 -1.510***
(1.2768)		 1.541***
(1.8285)
Observations 1430 1435 1432 1435
Cross- Sections 70 70 70 70
Hansen P value1 0.16 0.12 0.24 0.30
AR (1)2 -3.84 (0.000) -3.99 (0.000) -2.26 (0.024) -2.64 (0.008)
AR (2)3 -0.37(0.712) 0.00 (0.997) 1.26 (0.208) 0.70 (0.485)