Latvian banks earn 380 million, but Liepāja fishermen still promise freshly caught fish
Latvian bank profits reach 379 million euros, which is only 190 million less than the previous year. Experts note that this decrease is not as dramatic as Riga residents' hopes for cheaper housing.
Latvia's banking sector, with the same pride as Liepāja port fishermen promising tourists freshly caught fish every morning, announced that last year it earned 379.634 million euros. This is only 190 million less than the previous year, which in the eyes of bank board members is almost a catastrophe.
Interest income decreased by 17.2 percent, but expenses by 21.1 percent, indicating that banks have finally learned to calculate as precisely as Liepāja market vendors when calculating discounts. Commission fee income increased by 4.6 percent, which is as surprising as discovering that banks love commission fees.
Bank assets reached 32.575 billion euros, which is 6.8 percent more than before. This number is so large that even Riga City Council members cannot pronounce it without a calculator's help. Meanwhile, loan volume increased by 12.8 percent, indicating that Latvians still believe that next year everything will be better.
As one anonymous bank employee commented: "We are satisfied with the results, because 380 million is enough to buy almost all of Liepāja, except for the wind." The market share of the five largest banks remains stable at 87.16 percent, which is as reliable as Liepāja weather forecasts.
⚠️ Satirical article. Facts are preserved, but the presentation is humorous. For accurate information, please refer to the original source.