Vatican Bank Clean-Up And Account Closures Wipe Out Profit

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 Tuesday. 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.