News by email Donate

Suggestions

Vatican-main_article_image.jpg
Jean-Pol Grandmont
Church News

Chief at Vatican Bank resigns

The loss has been put down to huge restructuring of the organisation by Pope Francis as he attempts to stamp out corruption.

Profit went from 86.6m Euros in 2012 to just 2.9m Euros in 2013.

The Vatican spent 7.3m Euros bringing in American anti-money laundering experts to vet 18,000 individual Vatican Bank accounts.

Allegations that the Vatican Bank was used by money launders forced Pope Benedict to start a process of reform at the organisation.

He appointed Ernst von Freyberg just before his retirement in February last year.

He'll now be replaced by French businessman Jean Baptiste Franssu.

The president was appointed by Pope Benedict just before his retirement in February last year.

Financial figures also show The Holy See, the administrative headquarters of the Catholic Church, was 24.2m Euros in the red last year.

But the Vatican State made 32.3m Euros in profit in the same period, mainly from ticket sales for the Vatican Museums.

A Monthly Gift Of $11 Makes A World Of Difference

In a world of fake news there’s never been a greater need for quality Christian journalism. Premier’s mission is to provide the Church with the most up to date and relevant news, told from a Christian perspective. But we can’t do it without you.

Unlike many websites we haven't put up a paywall — we want to keep our journalism free at the point of need and as open as we can. Premier’s news output takes a lot of time, money and hard work to produce. No one in the USA is sharing news like we are across radio, magazines and online so please help us to continue that today.

For a monthly gift of $11 or more we’d also be able to send you a free copy of the brand new Premier Bible, a wonderful Anglicised version of the NLT packed with exclusive bonus content, reading plan and resources to help you get the most out of scripture.

Your monthly support will make a world of difference. Thank you.

Support Us
Continue the conversation on our Facebook page

Related Articles

Sign up to our newsletter to stay informed with news from a Christian perspective.

News by email

Connect

Donate

Donate