As New Report Released, Vatican Bank Chief Claims ‘Bad Old Days’ Are Done

With release of an annual report showing a healthy profit in 2020 despite the Coronavirus pandemic, Friday capped what’s already been a good run in June for the Institute for the Works of Religion, the so-called “Vatican bank,” including good grades from Europe’s top financial watchdog and a key recognition by the IRS in America.

In tandem with other milestones in recent years, President Jean-Baptiste de Franssu, the French economist and banker who’s led the IOR since 2014, believes June 2021 marks an historic turning point.

“I think we can say,” de Franssu told Crux, “that the era of the old Vatican bank is over.”

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