National Catholic Reporter

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Vatican bank

Vatican reforms: 'No way they will be stopped,' says lay expert

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Vatican reforms will not be stopped, according to Joseph F.X. Zahra, an economist and Malta business and banking executive, who has spent the better part of the past few years helping to lead the changes taking place at the Vatican. In 2011, Zahra was appointed as one of five members of the International Audit Committee of the Holy See and the Vatican City State. 

Vatican bank posts large profit, continues review of account holders

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The Institute for the Works of Religion, commonly known as the Vatican bank, showed a large jump in profits in 2014 as it continued to winnow its accounts.

The institute reported a net profit of 69.3 million euros ($75.5 million) in 2014 compared to a 2013 net profit of 2.9 million euros.

The bulk of the profit, 55 million euros, was given to the Holy See for its operating costs.

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May 6-19, 2016

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