VATICAN CITY
Istituto per le Opere di Religione
IOR releases financial statements for 2013 and announces Phase II of the Institute’s
reform
Phase I 2013-2014 of IOR reform concluded: all accounts checked, principal legacy cases investigated, transparency achieved, procedures improved.
Satisfactory operating performance in 2013, Net Profit and Assets under Management affected by reform process.
Successful first half of 2014, with strong financial results.
Phase II: IOR to continue to serve the Catholic Church worldwide with a new focus, a new governance and a new board and executive team.
Vatican City State, Tuesday, 8 July 2014 – The Istituto per le Opere di Religione (IOR) today released
its 2013 financial statements and gave a detailed update on the results of Phase I of the Institute’s reform. The second phase, namely the integration of the IOR into the new economic-administrative landscape of the Vatican, will be entrusted to a new board and executive team, operating under a new governance structure.The costs necessary for the completion of Phase I, and costs related to legacy investments, are reflected in the results for 2013.
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