Tag: Vatican bank

Vatican bank reports decreased profits in 2018

Vatican bank reports decreased profits in 2018

| Junno Arocho Esteves | June 11, 2019 | 0 Comments

The Institute for the Works of Religion, often referred to as the Vatican bank, made a profit of 17.5 million euros (about US$19.8 million) in 2018, just over half the profit reported in the previous year, according to its annual report.

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Embezzlement trial of former Vatican bank official begins

Embezzlement trial of former Vatican bank official begins

| Cindy Wooden | May 10, 2018 | 0 Comments

The Vatican has accused a former director of the Vatican bank and his lawyer of money laundering and embezzlement, saying the men skimmed an estimated 57 million euros (about $68 million) off profits from the sale of Vatican properties.

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