THE financial crisis has depleted the reserves of two of Greater Manchester's largest religious organisations.

Accounts filed with the Charity Commission show the Roman Catholic Salford Diocesan Trust, which covers 179 parishes and a flock of 330,000, took a £6.6m hit on its investment portfolio during 2008. It is now warning of "strict budgets" for all departments.

The Church of England Diocese of Manchester, covering 280 parishes, saw turmoil in the markets wipe £1.8m of its equity investments, a decrea......for the full story register now for free or login below...