The Impact of COVID-19 on Bank Profitability: Cross-Country Evidence

Emmanuelle Augeraud Veron and Whelsy Boungou
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Emmanuelle Augeraud Veron: BSE - Bordeaux Sciences Economiques - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique
Authors registered in the RePEc Author Service: Emmanuelle Augeraud-Véron

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Abstract: Using data from 5474 banks located in 23 OECD countries over the period 2019Q2-2022Q1, we study the influence of COVID-19 on bank profitability (before and during the COVID-19 vaccination period). Our results show a negative impact of the COVID-19 pandemic on bank profitability, especially at the onset of the health crisis. In addition, we find that vaccination against COVID-19 had a positive effect on bank profitability, not yet sufficient to compensate for the losses generated at the beginning of the pandemic. Finally, we show that these effects depend on the characteristics of banks (notably size and capital) before vaccination and on the severity of the crisis across countries. Overall, we provide the first evidence of the influence of vaccination on bank behavior in terms of profitability.

Keywords: COVID-19; Vaccination; Bank profitability (search for similar items in EconPapers)
Date: 2023-01-09
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Published in German Economic Review, 2023, ⟨10.2139/ssrn.4318881⟩

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Journal Article: The Impact of COVID-19 on Bank Profitability: Cross-Country Evidence (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03940242

DOI: 10.2139/ssrn.4318881

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