Vatican Bank Has Halved Its Profits
The profit of the Vatican Bank (IOR) has decreased to €18.1M (2020: 36.4M) according to its 2021 Financial Statement. The money will go to Francis’ coffers. The profits are in line with expectations …More
The profit of the Vatican Bank (IOR) has decreased to €18.1M (2020: 36.4M) according to its 2021 Financial Statement.
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
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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Aaron-Jozef
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Gelukkig, ze moeten nog veel armer worden. Geef geen geld meer aan de Novus Ordo kerk.
John A Cassani
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So, the Vatican Bank is roughly the size of a community bank in the US. It is not a player in international finance. This probably is a big part of the reason that the Vatican bows to the powers of this world. Is keeping the Church’s material patrimony really worth the price that’s being paid?