Vatican Bank Has Halved Its Profits
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The money will go to Francis’ coffers. The profits are in line with expectations and there is a growth in assets under management.
In 2021, the IOR closed more than 400 accounts after periodic checks. Its clients are religious orders (50%), Vatican entities (23%), dioceses and parishes (9%), cardinals, bishops and clergy (8%), Vatican employees and pensioners (7%), foundations and other canon law bodies (3%).
The stock of deposits amounted only to €1.8B.
Picture: IOR © Heiko Merkelbach, wikicommons, CC BY-SA, #newsKreoqrtdyu
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