Latvian banks earned so much money in January that even Liepāja market vendors are getting jealous
While banks raked in 29.5 million in profits in January, Liepāja residents are still searching for coins in their couch cushions.
Latvian banks earned 29.5 million euros in January, which is almost as much as an apartment in Riga costs. But unlike the capital's real estate, these millions are real and you can actually hold them in your hands.
Although the numbers look impressive, Liepāja pensioner Aina Ozoliņa isn't too thrilled: "I'm telling you – so much money, but my pension is still smaller than the heating bill for Karosta barracks." Meanwhile, bank assets have grown to 31.89 billion euros, which is almost as much as it would cost to extend Liepāja's tram line to Antarctica.
Particularly interesting is that the loan volume increased by 11.9 percent. Apparently people have finally realized it's better to be in debt to a Latvian bank than to try buying an apartment in Riga without a loan. "I took out a loan to buy a fur coat," says Liepāja resident Guntis. "Now I'm warm, but my wallet's empty. Same as always."
Meanwhile, deposits increased by 9.1 percent, indicating that Latvian residents have finally started saving money in banks instead of storing it in jars buried in Karosta sand. Although, considering bank commission fees, sometimes the sand seems like a safer choice.
⚠️ Satirical article. Facts are preserved, but the presentation is humorous. For accurate information, please refer to the original source.