VATICAN CITY
Vatican Radio
(Vatican Radio) A statement from the Institute for the Works of Religion, popularly known as the Vatican Bank, published its annual financial report on Monday, showing net gains of €36 million for the year 2016.
That figure is more than twice the €16.1 million income of the previous year, which the statement says was achieved through “a prudent approach in managing IOR’s investments in a year characterised by high volatility, global political uncertainty due to unexpected outcomes of major electoral events and low interest rates”.
The statement shows that in 2016 the IOR served nearly 15,000 clients worldwide, who entrusted to the Institute assets worth € 5.7 billion.
Please see below the full statement from the Institute for the Works of Religion (IOR)
Vatican City, 12 June 2017 – For the fifth year, the Istituto per le Opere di Religione (IOR) has published its financial statements. The financial statements have been audited by the independent audit firm Deloitte & Touche S.p.A. The Board of Superintendence of the Istituto per le Opere di Religione unanimously approved the 2016 financial statements on April 26 and proposed to the Cardinals Commission the distribution of the entire amount of profits to the Holy See. In 2016 IOR has continued to serve with prudence and provide specialized financial services to the Catholic Church worldwide and the Vatican City state. The highlights are as follows.
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