Vatican bank reports significant profit adopting Catholic ethics
Vatican CityRNS Describing itself as the only financial entity aimed at adhering to Catholic ethics instead of achieving the highest possible profit, the Vatican bank, officially called the Institute for Religious Works or IOR, €29.6 million in profit in 2022, according to its budget published on Tuesday. In its 11th annual budget report, the Vatican’s financial […]
Pope further tightens controls, centralisation of Vatican finances
Vatican City Reuters Pope Francis on Tuesday acted to eliminate wiggle room or foot- dragging by Vatican departments in imposing tighter financial controls, setting a deadline for the closing of investment portfolios in foreign banks, including in Italy. Francis issued a document known as a “rescriptum”, or re-writing, making clear that all investments by all […]