Institute for Works of Religion releases 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.