Vatican City, Jun 7, 2022 / 10:30 am
The Institute for Works of Religion (IOR), commonly known as the Vatican bank, announced on Tuesday that it had recorded a profit of around $19 million in 2021.
The $19 million net profit is down from $44 million in 2020 and $46 million in 2019.
In its annual report, published on June 7, the IOR emphasized its dedication to managing clients’ financial assets according to Catholic values and principles.
Cardinal Santos Abril y Castelló, president of the Supervisory Commission of Cardinals, wrote in the report that the profit of 18.1 million euros ($19.3 million) was “an important result considering the low yields on financial markets.”