Finance Minister: Lithuanian banks will not share similar fate as two US banks that collapsed

Minister of Finance Gintarė Skaistė told reporters Thursday that Lithuanian banks would not share the same fate as two US banks that have collapsed. She notes that a lot has changed in the financial system after the last financial crisis and many risks have been averted.

“Observing the current situation and the liquidity of Lithuanian banks, I would even say excess liquidity, and credit risks in Lithuania, so far we do not see that something similar to what happened in the USA might occur. On the contrary, banking profits and liquidity are at a record high,” the minister told reporters Thursday.