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Vatican bank publishes annual report online for first time

Reports 86.6 million net profit in 2012, quadruple 2011 results

01 October, 11:34
Vatican bank publishes annual report online for first time (ANSA) - Vatican City, October 1 - The Vatican bank, the Institute for Religious Works (IOR), for the first time published its annual report online on its new website on Tuesday, as part of a sweeping effort to bring more transparency to the Holy See.

The report said the IOR saw a net profit of 86.6 million euros in 2012, four times 2011's net profit of 20.3 million euros.

The IOR used 54.7 million euros to increase the Holy See's budget and 31.9 million euros went to a general reserve for operational risks.

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