Productivity and efficiency are considered as leading indicators for evolving strengths or weakness of banking system across the world by all stakeholders in general and regulators in particular. The analysis of productivity is of relevance from the stakeholder’s point of view, because they have interest in knowing the revenue generation capacity of banking firm for better yield on their funds invested with banks, while from the regulator point of view, if banks become better-functioning entities, it is expected to mirror in safety and soundness of the financial system and ultimately, lead to increases in the rate of economic growth.