Vatican bank profits almost wiped out in 2013 clean-up

The Vatican bank has blocked the accounts of more than 2,000 clients and ended some 3,000 "customer relationships" as part of a clean-up process that nearly wiped out its profit, its 2013 financial statement showed yesterday.

The bank has been hit by years of scandal, including money laundering allegations and is about to be restructured, with a new president and a new board.

All but about 400 of the 3,000 terminated accounts were “dormant” with small balances and had been inactive for years.