Posts Tagged ‘Institute for Religious Works’

Vatican Bank denies receiving funds from Russia

Monday, September 18th, 2023

After a close aide to Ukrainian President Volodymyr Zelenskyy accused Pope Francis of being a Russophile, and the Vatican of receiving Russian funds, the Catholic Church issued a statement denying the accusations on Sunday (Sept 10). “The IOR does not receive or invest money from Russia,” read a statement by the Institute for Religious Works, Read more

Vatican bank reports profit increase while upholding Catholic ethics

Monday, June 12th, 2023

The Vatican bank’s commitment to upholding Catholic ethics helped it achieve a profit of €29.6 million in 2022, according to its recently published budget. Officially known as the Institute for Religious Works or IOR, the bank, once a symbol of financial misconduct, has successfully rebranded itself as a pillar of transparency at the Vatican. Pope Read more

Profits are down, ethics are up for Vatican bank

Thursday, May 24th, 2018

Profits are down for the Vatican bank. The Institute for Religious Works (commonly known as the Vatican bank) issued its annual report on Tuesday. The report says the bank earned 31.9 million euros in profits last year. This is about 7 million euros down from its 36 million euro-profit in 2016. The profits are returned Read more