Newfie Banking

A Newfie walked into a bank in Toronto and asked for the loans

officer. He told the loans officer that he was going to Newfoundland on business  for

two weeks and needed to borrow $5,000.

 

However, he was not a depositor of the bank. The bank officer

told him that the bank would need some form of security for the loan, so the

Newfie handed over the keys to a new Ferrari.

 

The car was parked on the street in front of the bank. The Newfie

produced the title and everything checked out. The loan officer agreed to hold the car as

collateral for the loan and apologized for having to charge 12% interest.

 

Later, the bank's president and its officers all enjoyed a good laugh at the Newfie for using a

$250,000 Ferrari as collateral for a $5,000 loan. An employee of the bank

then drove the Ferrari into the bank's underground garage and parked it.

 

Two weeks later, the Newfie returned, repaid the $5,000 and the

interest of $23.07. The loan officer said, 'Sir, we are very happy to have had your business,

and this transaction has worked out very nicely, but we are a little

puzzled. While you were away, we checked you out and found that you are a

multimillionaire. What puzzles us is, why would you bother to borrow $5,000?'

 

The Newfie replied: 'Where else in Toronto can I park my car for two weeks for only $23.07 and

expect it to be there when I return?'

 

Ah, Newfies...... See! Salt Fish is good for the brain.

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