“…The financial sector especially banking sector is one of the vital sectors deemed as backbone of the country's economy (Bhaskaran et al, 2016;Dikko et al, 2021;Hani et al, 2021;Thai et al, 2021), especially during economic recovery due to the pandemic. The role of banking is vital due its ability to absorb a large number of workers, provide a variety of credit and investment products and provide other financial services to the public (Alam et al, 2021;Orbaningsih et al, 2022). Meanwhile on investment side, the banking sector also occupies the largest capitalization on the Indonesia Stock Exchange, see also (Foggitt et al, 2017;Gallego-Sosa et al, 2021).…”