Institute for Works of Religion
releases Annual Report
 |
| the tower of Nicholas V, the seat of the IOR |
The Institute's Board of Superintendence unanimously
approved the 2019 Annual Report.
In a press release issued on Monday, the Institute for Works
of Religion (Istituto per le Opere di Religione or IOR), commonly
known as the Vatican Bank, announced the publication of the Financial
Statements in its Annual Report.
The 2019 Financial Statements were audited by Mazars, an
independent international auditing firm.
The statement from the IOR highlighted “the soundness and
strength of IOR financials (capital and liquidity level) and its compliance
with international best practices”. The press release continues, "In line
with the indications of His Holiness Pope Francis, the Commission of Cardinals
decided again this year for a full distribution of profits."
The Institute for Works of Religion provides financial
services to the Vatican City State and to the Catholic Church worldwide. In its
operations, it works to ensure adherence to “the ethical and social principles
of Catholic Teaching” in its management and in the “investment policies of its
own account” and “those of its clients”.
The press release also noted that the IOR “has continued to
strengthen its senior management team and has increased its investments in IT
including those related to the membership of the European SEPA payment
platforms.”
For links to the press release and to the full text of
the Annual report, you can visit the website of the
Institute for Works of Religion.
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