The Institute for the Works of Religion, often referred to as the Vatican bank, made a profit of 17.5 million euros (about US$19.8 million) in 2018, just over half the profit reported in the previous year, according to its annual report.
The bank, which had made a profit of 31.9 million euros in 2017, said the decrease was due “to the strong turbulence of the markets throughout the year and the persistence of interest rates which are still very low.” Read more