The Vatican Bank—officially the Institute for Religious Works, or IOR—published its first annual report this morning, an exhaustive 100-page document (pdf) which lays bare the extent of the Catholic institution’s vast holdings. The numbers are indeed large—the bank’s balance sheet, for example, includes €5 billion ($6.8 billion) with some €769 million in equity alone. But the bank’s profit last year is perhaps what’s most impressive. The IOR raked in a net €86.6 million in 2012, more than four times its €20.3 profit from 2011. ior.va/Portals/0/Content/Media/Documents/AnnualReports/425x00sc399T!/IOR_AnnualReport_E.pdf
Posted on: Wed, 02 Oct 2013 07:10:38 +0000
Trending Topics
Recently Viewed Topics
© 2015