Basel III Capital Regulations and Bank Efficiency: Evidence from Selected African Countries
Abstract
:1. Introduction
2. Literature Review
3. Methodology and Data
3.1. Data and Variable Definition
3.2. Regression Model Specification
3.3. Data Envelopment Analysis (DEA)
4. Discussion of Results
4.1. Descriptive Statistics
4.2. Regression Results
4.3. DEA Efficiency Results
5. Conclusions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Acknowledgments
Conflicts of Interest
Appendix A
OETA | NIMR | |||
---|---|---|---|---|
S/N | Country | DMU | Score | Score |
1 | Tanzania | CRDB Bank | 0.780167 | 0.96431 |
2 | Tanzania | OCB Commercial Bank | 0.781439 | 0.961874 |
3 | Tanzania | KCB Group Plc | 0.781046 | 0.962355 |
4 | Tanzania | Maendeleo Bank Plc | 0.78015 | 0.958146 |
5 | Tanzania | Mkombozi Commercial Bank Plc | 0.785724 | 0.955836 |
6 | Tanzania | Mucoba Bank | 0.99395 | 0.95133 |
7 | Tanzania | NMB Bank Plc | 0.993561 | 0.953982 |
Average | 0.842291 | 0.958262 | ||
8 | South Africa | ABSA Bank Ltd. | 0.992896 | 0.990131 |
9 | South Africa | Capitec Bank Holdings | 1 | 0.99554 |
10 | South Africa | First National Bank | 0.996209 | 1 |
11 | South Africa | Nedbank Group Ltd. | 0.91635 | 0.992974 |
12 | South Africa | Sasfin Holdings Ltd. | 0.923536 | 0.977752 |
13 | South Africa | Standard Bank Group Ltd. | 0.923981 | 0.990111 |
Average | 0.958829 | 0.991078 | ||
14 | Uganda | Bank of Baroda Uganda | 0.929605 | 1 |
15 | Uganda | DFCU Ltd. | 0.934308 | 0.94597 |
16 | Uganda | Equity Bank Ltd. | 0.700412 | 0.930998 |
17 | Uganda | KCB Group Plc | 0.69636 | 0.922998 |
18 | Uganda | Stanbic Bank Uganda Ltd. | 0.679158 | 0.997799 |
Average | 0.787969 | 0.959553 | ||
19 | Malawi | National Bank of Malawi | 0.879104 | 0.96835 |
20 | Malawi | NBS Bank | 0.869020 | 0.948934 |
21 | Malawi | Standard Bank Malawi | 0.919155 | 0.935912 |
Average | 0.889093 | 0.951065 | ||
22 | Kenya | Absa Bank | 0.770312 | 0.93839 |
23 | Kenya | BK Group Plc | 0.746503 | 0.940617 |
24 | Kenya | Co-operative Bank of Kenya Ltd. | 0.700495 | 0.948219 |
25 | Kenya | Diamond Trust Bank | 0.602219 | 0.91532 |
26 | Kenya | Equity Group Holdings Plc | 0.665996 | 0.855576 |
27 | Kenya | I&M Holdings | 0.874659 | 0.843729 |
28 | Kenya | KCB Group | 0.873802 | 0.836308 |
29 | Kenya | National Bank of Kenya | 0.681904 | 0.91128 |
30 | Kenya | NIC Group Plc | 0.79172 | 0.883624 |
31 | Kenya | Stanbic Holdings Plc | 0.75155 | 0.935564 |
32 | Kenya | Standard Chartered Bank | 0.57514 | 0.9152 |
Average | 0.730391 | 0.902166 | ||
33 | Nigeria | Access Bank Plc | 0.915479 | 0.919599 |
34 | Nigeria | Eco Bank | 0.917807 | 0.92884 |
35 | Nigeria | FBN Holdings Plc | 0.935185 | 0.932556 |
36 | Nigeria | FCMB Group | 0.822388 | 0.933497 |
37 | Nigeria | Fidelity Bank | 0.821355 | 0.941982 |
38 | Nigeria | Stanbic IBTC Holding Plc | 0.810171 | 0.942188 |
39 | Nigeria | Sterling Bank | 0.820942 | 0.953407 |
40 | Nigeria | Union Bank of Nigeria | 0.831225 | 0.957367 |
41 | Nigeria | United Bank for Africa | 0.913026 | 0.932673 |
42 | Nigeria | Unity Bank | 0.927069 | 0.914649 |
43 | Nigeria | Wema Bank | 0.930412 | 0.922865 |
44 | Nigeria | Zenith Bank | 0.804117 | 0.938437 |
45 | Nigeria | Guaranty Trust Bank | 0.807749 | 0.973845 |
Average | 0.865917 | 0.937839 | ||
TOTAL | 0.848019 | 0.948891 |
OETA | ADF Test Statistic | 1% Critical value | 5% Critical value | 10% Critical value |
−7.596 *** | −3.480 | −2.884 | −2.574 | |
p-Value | (0.000) | |||
Inference | Stationary | |||
No of obs. | 450 | |||
NIMR | ADF Test Statistic | 1% Critical value | 5% Critical value | 10% Critical value |
−12.467 *** | −3.480 | −2.884 | −2.574 | |
p-Value | (0.000) | |||
Inference | Stationary | |||
No of obs. | 450 | |||
MCR | ADF Test Statistic | 1% Critical value | 5% Critical value | 10% Critical value |
−10.309 *** | −3.480 | −2.884 | −2.574 | |
p-Value | (0.000) | |||
Inference | Stationary | |||
No of obs. | 450 | |||
CAR | ADF Test Statistic | 1% Critical value | 5% Critical value | 10% Critical value |
−16.112 *** | −3.480 | −2.884 | −2.574 | |
p-Value | (0.000) | |||
Inference | Stationary | |||
No of obs. | 450 | |||
CBP | ADF Test Statistic | 1% Critical value | 5% Critical value | 10% Critical value |
−0.552 | −3.480 | −2.884 | −2.574 | |
p-Value | (0.881) | |||
Inference | Non−stationary | |||
No of obs. | 450 | |||
LCR | ADF Test Statistic | 1% Critical value | 5% Critical value | 10% Critical value |
−14.809 *** | −3.480 | −2.884 | −2.574 | |
p-Value | (0.000) | |||
Inference | Stationary | |||
No of obs. | 450 |
Variables | Pooled OLS Model | Random Effects Model | ||
---|---|---|---|---|
NIMR | OETA | |||
pMCR | −63.8682 (−0.45) | 0.0438 (1.45) | ||
pCAR | 88.7360 (0.68) | −0.0336 (−1.21) | ||
pDCBP | 3.7912 (0.04) | 0.0422 (2.25) | ||
pLCR | −0.8018 (−0.04) | 0.7538 ** (3.39) | ||
Obs. | 450 | 450 | ||
Adjusted R2 | 0.7800 | 0.8500 | ||
BP L-M statistics | 407.34 *** | |||
Hausman Test: | ||||
Chi2-value | 0.00 | |||
Prob > chi2 | 1.0000 |
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S/N | Variables | Acronym | Variable Measurement |
---|---|---|---|
Dependent Variables | |||
1 | Efficiency | EFF | OETA = ratio of operating expenses to total assets. NIMR = ratio of net interest revenue to total earnings |
Basel III regulatory requirements: Independent Variables | |||
2 | Minimum Capital Requirement | MCR | Minimum ratio of Tier 1 + Tier 2 |
3 | Capital Adequacy Ratio | CAR | Tier 1 + Tier 2/Risk-Weighted Asset |
4 | Capital Buffer Premium | CBP | Actual capital (core capital plus supplementary capital) less minimum regulatory capital. |
5 | Liquidity Requirements | LCR | HQLA/ENCO |
Variables | Mean | Std Deviation | Minimum | Maximum | Skewness | Kurtosis | ADF Test-Statistics |
---|---|---|---|---|---|---|---|
OETA | 0.0082 | 0.0065 | 0.0011 | 0.0855 | 0.0591 | 0.6061 | −7.596 *** |
NIMR | 4.3030 | 22.8573 | −26.8340 | 211.3770 | −0.0360 | 0.7454 | −12.467 *** |
MCR | 0.1359 | 0.0620 | 0.0628 | 0.2090 | 0.0054 | 0.0204 | −10.309 *** |
CAR | 0.2937 | 0.1851 | 0.1056 | 0.4818 | 0.0156 | 0.0518 | −16.112 *** |
CBP | 0.1578 | 0.1231 | 0.0428 | 0.2728 | 0.0950 | 6.0737 | −0.552 |
LCR | 1.8172 | 1.1984 | 0.7053 | 2.6991 | 0.0251 | 0.1170 | −14.809 *** |
Variables | OETA | NIMR | ||
---|---|---|---|---|
VIF | 1/VIF | VIF | 1/VIF | |
MCR | 2.85 | 0.3507 | 2.85 | 0.3507 |
LCR | 1.91 | 0.5222 | 1.91 | 0.5222 |
CAR | 1.56 | 0.6393 | 1.56 | 0.6393 |
DCBP | 1.03 | 0.9737 | 1.03 | 0.9737 |
Mean VIF | 1.84 | 1.84 |
Random Effects Results | Pooled OLS Results | |||||
---|---|---|---|---|---|---|
OETA | NIMR | |||||
Variables | Coefficients | Z-Statistics | p-Value | Coefficients | T-Statistics | p-Value |
MCR | 0.1081 | 1.30 | 0.221 | 21.1478 | 0.71 | 0.810 |
CAR | 0.0450 | 1.31 | 0.430 | 7.4288 | 1.01 | 0.321 |
DCBP | 0.1701 | 1.74 | 0.081 * | 70.5403 | 2.35 | 0.030 ** |
LCR | 0.2810 | 3.42 | 0.000 *** | −2.0525 | −0.68 | 0.203 |
Obs. | 450 | 450 | ||||
Adjusted R2 | 0.6430 | 0.761 | ||||
BP L-M statistics | 347.33 | 0.000 | ||||
Hausman Test: | ||||||
Chi2-value | 6.23 | |||||
Prob > chi2 | 0.2843 |
OETA | NIMR | ||||
---|---|---|---|---|---|
S/N | Country | Average Efficiency Score | Ranking | Average Efficiency Score | Ranking |
1 | Kenya | 0.7304 | 6th | 0.9021 | 6th |
2 | Nigeria | 0.8653 | 3rd | 0.9378 | 5th |
3 | South Africa | 0.9587 | 1st | 0.9912 | 1st |
4 | Tanzania | 0.8421 | 4th | 0.9582 | 3rd |
5 | Uganda | 0.7877 | 5th | 0.9596 | 2nd |
6 | Malawi | 0.8891 | 2nd | 0.9510 | 4th |
Total | 0.8480 | 0.9488 |
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Obadire, A.M.; Moyo, V.; Munzhelele, N.F. Basel III Capital Regulations and Bank Efficiency: Evidence from Selected African Countries. Int. J. Financial Stud. 2022, 10, 57. https://doi.org/10.3390/ijfs10030057
Obadire AM, Moyo V, Munzhelele NF. Basel III Capital Regulations and Bank Efficiency: Evidence from Selected African Countries. International Journal of Financial Studies. 2022; 10(3):57. https://doi.org/10.3390/ijfs10030057
Chicago/Turabian StyleObadire, Ayodeji Michael, Vusani Moyo, and Ntungufhadzeni Freddy Munzhelele. 2022. "Basel III Capital Regulations and Bank Efficiency: Evidence from Selected African Countries" International Journal of Financial Studies 10, no. 3: 57. https://doi.org/10.3390/ijfs10030057
APA StyleObadire, A. M., Moyo, V., & Munzhelele, N. F. (2022). Basel III Capital Regulations and Bank Efficiency: Evidence from Selected African Countries. International Journal of Financial Studies, 10(3), 57. https://doi.org/10.3390/ijfs10030057