Following the inauguration of the ASEAN Banking Integration Framework (ABIF), ASEAN members are expected to step up their efforts to liberalize their banking sectors to facilitate a higher level of integration among themselves and with the global banking system. This increased integration is expected to foster the convergence of profitability among ASEAN banks as competition abounds in the banking sectors from domestic banks' exposure to their fellow ASEAN rivals. From a revenue perspective, stronger rivalry following higher economic freedom through liberalization will cause the demand curve for banking outputs to be more elastic, which then