The Church of Greece is preparing to enter the financial world with plans to launch a fully digital bank. After three years of quiet development, the Church is now getting ready to apply for a

banking license, with the goal of submitting its application to the Bank of Greece by May or early June.

The proposed bank will operate entirely online—without any physical branches—and will offer services through computers and smartphones. A source involved in the project told Kathimerini that the bank will be a “very modern electronic bank” and stressed that Church assets will not be used as collateral, pushing back against speculation that it would become a so-called “Holy Bank.”

The initiative has sparked mixed reactions within the Church. While some clergy members support the idea, others remain cautious. “Let’s see if bishops start wanting to become shareholders once things get going,” one insider remarked. There are also concerns about how Greece’s traditional banking sector will respond to the Church’s entry into finance.

Project leaders are eager to distance themselves from comparisons to the Vatican’s financial operations. “We are not becoming the Vatican,” a Church source said, referencing past scandals involving the Holy See.

The digital bank is being developed in partnership with Financial Innovation Holding SA. Angelos Filippidis, former president of the Postal Savings Bank, is credited as the driving force behind the plan. Although the Church is not contributing any capital directly, it is leveraging its respected name to attract private investors.

If approved, the digital bank plans to eventually expand its reach beyond Greece, focusing on serving Greek communities abroad. Photo by Felix, Wikimedia commons.