Vatican City, Jun 11, 2021 / 04:45 am
The Institute for Religious Works, commonly known as the “Vatican bank,” announced Friday that it recorded a net profit of $44 million in 2020.
Cardinal Santos Abril y Castelló, president of the Supervisory Commission of Cardinals, said that he was “delighted” by the figure considering the coronavirus pandemic’s impact on the global economy.
Writing in the institute’s 2020 annual report, he said: “The institute obtained a net profit of EUR 36.4 million [$44 million], compared to EUR 38 million [$46 million] of the previous year.”
“This is a very significant result, with which I was delighted, considering the low yields that currently characterize the financial markets, let alone the high volatility caused by the pandemic.”