“…More recently, research has focused on the impact of macroeconomic factors on bank performance (Koju et al, 2019;Nieto, 2019;Serrano, 2019;Moudud-Ul-Huq, 2019;Arham et al, 2020;Rashid and Khalid, 2020;Nugroho et al, 2020;Elmawazini et al, 2020;Anwar et al,2020). Moreover, to date, empirical research has concentrated on a specific country, mainly the banking system of the USA (Berger, 1995;Teixeira et al, 2020) and the banking systems in other developed countries such as the UK (Valverde and Fern andez, 2007), Finland (Huhtilainen, 2020) and Italy (Barra and Zotti, 2019). Fewer studies have looked at bank performance in developing economies such as China (Lee and Lee, 2019;Liu et al, 2019), India (Vidyarthi, 2019), Pakistan (Ali and Puah, 2019;, Ghana (Duho et al, 2020) and Malaysia (Ibrahim, 2020;Indrawan and Rahman, 2020).…”