News

Bank’s profits soar Premium

28 May 2015 | by Hannah Roberts in Rome
 
Profits AT the Vatican bank soared 20-fold in 2014 as Pope Francis’ clean-up of financial malpractice nears completion, writes Hannah Roberts.At the once-scandal-plagued bank, profits last year rebounded from €2.9 million to €69.3m, after 2013 results that had been hit by “extraordinary” operating ex­penses, the institution said in its annual report. In 2013 the bank had suffered a loss in income after being forced to pay consultants and other experts to help it meet international standards to fight money laundering.“The improvement was mainly due to the performance of the results from trading securities and the decrease in operating costs of an extraordinary nature,” the bank, formally known as the Institute for Religious Works (IOR), said.The




Subscribe now and enjoy access to all parts of the tablet website, Including its 175 year archive...
Subscribe


Article List


TABLET WORLD…
Latest Issue

Digital/PDF Version

PDF version (iPad-friendly)

Previous Issues
Latest Tweet
Most Read Articles

Both sides in Amoris Laetitia debate are right, says Cardinal Müller19 October 2017 by Christa Pongratz-Lippitt

Pro Francis theologians start petition in support of Pope following 'filial correction' 18 October 2017 by Christopher Lamb

German bishops abandon controversial Missal translation09 October 2017 by Christa Pongratz-Lippitt

Changing minds and hearts: the basic moral test of a society and its laws is the treatment of human life at its most vulnerablePremium18 October 2017 by John Wilson

The book of the people: the laity were reading the scriptures before 1517Premium18 October 2017 by Thomas Kaufmann

When realities collide: A pro-life activist suggests a change of direction for those campaigning for the abolition of the Abortion ActPremium18 October 2017 by Rebecca Bratten Weiss

Both sides in Amoris Laetitia debate are right, says Cardinal Müller19 October 2017 by Christa Pongratz-Lippitt

Pro Francis theologians start petition in support of Pope following 'filial correction' 18 October 2017 by Christopher Lamb

German bishops abandon controversial Missal translation09 October 2017 by Christa Pongratz-Lippitt

Changing minds and hearts: the basic moral test of a society and its laws is the treatment of human life at its most vulnerablePremium18 October 2017 by John Wilson

The book of the people: the laity were reading the scriptures before 1517Premium18 October 2017 by Thomas Kaufmann

When realities collide: A pro-life activist suggests a change of direction for those campaigning for the abolition of the Abortion ActPremium18 October 2017 by Rebecca Bratten Weiss

Share Us
Tablet Subscription

Manage my subcription here

Manage
Newsletter

Sign up for our newsletter

Sign Up
Top