they are getting insane profits. because of high interest rates, they are not lending from ecb, instead they use internal reserves. but they ask customers to pay ecb rate+ bank rate. might be around 7% or smth. but when business comes, and asks for loan even on such high rates (as there are business opportunities in this changing environment), they are basically showing middle finger. because proximity to russia makes investments more risky. scandinavian banks used their influence to put out of business a lot of local banks. and now when they are in dominating position, they are hesitant to do what banks do. giving out loans.
Latvia