Vatican bank reveals profit

City A.M. Reporter
THE VATICAN bank, dogged for decades by scandals and opaque dealings, published the first annual report in its 125-year history yesterday.

The report, audited by KPMG, covered 2012, a tumultuous year that saw its former president ousted in a boardroom battle.

The bank reported a net profit of €86.6m (£72.3m), more than four times greater than the €20.2m profit in 2011.