Church of Greece to launch a digital bank, media reports

Archbishop Ieronymos of Athens. Photo: Press Service of the Church of Greece

According to The National Herald, the Church of Greece is planning to file an application for a digital banking license in the coming months. The Greek newspaper Kathimerini reports that the project has been quietly in development for several years. An unnamed source noted that the initiative has sparked internal debate among clergy over whether it is appropriate for the Church to engage in the financial sector, which includes lending and, at times, debt collection.

The report states that the necessary documents will be submitted to the Bank of Greece by May or early June. The Church is moving quickly with the project, which envisions a fully digital bank with no physical branches – clients would access services exclusively via mobile devices or computers.

“It will be a very modern electronic bank and it will not use Church assets as collateral,” the source emphasized, dismissing suggestions that it will function as a so-called “Holy Bank.”

However, the idea has proved divisive. Some Church officials support the initiative, especially in a country where up to 90% of the population identifies with the Greek Orthodox Church – offering an instant, loyal customer base.

The Church reportedly does not intend to invest its own capital but plans to attract funding from private investors. Once regulatory approval is secured, the bank is expected to expand beyond Greece, targeting Greek diaspora communities worldwide. The approach highlights how a traditional institution can leverage digital technology to broaden its reach and modernize its role in today’s world.

There is some internal skepticism within the Church of Greece.

“Let’s see when results start emerging if Bishops will gradually want to become shareholders,” said one unnamed insider, suggesting an ongoing internal process of reconciling Church tradition with modern financial tools. Concerns have also been raised about how other Greek banks will react to the Church becoming a competitor in the financial sector.

“We are not becoming the Vatican,” a Church source stated, noting that there is no comparison to the Holy See, which has faced several financial scandals involving senior Catholic Church officials.

Earlier, it was reported that in Finland, the Lutheran Church held a worship service conducted by artificial intelligence.

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