Marriage between the Vatican’s 100-strong employee pool isn’t allowed. You can live together and work together, you can have children together and work together, but you may not be married and work together. Oh no. If you marry, one of you must volunteer to leave the Vatican’s employ altogether (going to another department isn’t acceptable). Read more
The Institute for the Works of Religion, commonly known as the Vatican bank, showed a net profit of 36.4 million euros ($44.1 million) in 2020, according to its annual report. Compared to a net profit of 38 million euros ($46 million) the previous year, “this is a very significant result” considering the low yields and Read more
The Vatican bank has started legal proceedings in Malta against those it holds responsible for the loss of millions of euros in an investment fund. Maltese judge, Mr Justice Wenzu Mintoff, will preside over the case. His role will include deciding the bank’s total losses. The Vatican statement says the losses are “significant.” It also Read more
The Vatican bank’s annual report shows a profit of €36 million (about NZ$55,630 million) for its last financial year. The profits, which are up €20 million from the €16.1 million in the 2015 year, are “being distributed in aid of the Holy See’s mission”. More properly called the Institute for the Works of Religion, the Read more
The Pope has rejected a proposal that the Vatican Bank has a variable share capital investment fund based in Luxembourg. The proposal had the approval of the Institute for the Works of Religion’s board and was put forward by its president. Having this type of investment fund would have helped IOR managers manage a portion Read more
A new president has been announced for the scandal-plagued Vatican bank, as it was revealed that the institution’s 2013 net profit had plunged. Some 3000 accounts have been also purged from the bank in the last year, with almost 400 not meeting stricter client criteria, requiring a close link with the Church. French financier Jean-Baptiste Read more