US Edition
Vatican's Financial Woes: Undervalued Assets and Dwindling Donations
- The Institute for the Works of Religion reported a net profit of 32.8 million euros in 2024, a 7% increase from 2023.
- Pope Francis directed the entire dividend of 13.8 million euros from the IOR to charitable projects.
- The IOR managed total assets of 5.7 billion euros and had a Tier 1 capital ratio of 69.4%, which the Vatican described as solid financial performance.
- Jean-Baptiste de Franssu noted improvements in financial performance due to growth in interest and commission income, alongside strong cost control measures.
12 Articles
12 Articles
Vatican's Financial Woes: Undervalued Assets and Dwindling Donations
The Vatican faces a budget crisis, primarily relying on declining donations and an under-performing real estate portfolio. While US donations add significant support, overall contributions have decreased. Real estate underutilization remains a challenge, with many properties not generating income due to low rent and occupancy issues.
Profits growing to 32.8 million for the Institute for the Works of Religion. 79% of the investment funds "Catholics" beats competition
IOR posts $38M profit amid financial clouds over Vatican
The Vatican’s Institute for the Works of Religion reported another significant year of profit for 2024.The Torrione di Niccolò V, the Vatican headquarters of the Institute for the Works of Religion. Joi Ito/wikimedia CC BY 2.0.According to the bank’s 2024 annual report, released June 11, the IOR recorded a net profit of 32.8 million euros (almost $38 million), an increase from 30.6 million euros ($35 million) in 2023.The result enabled the Vatic…
Since 2015, Vatican Bank IOR has published its balance sheets every year. The result has never been as good as in the 2024 marketing year. Pope Leo can look forward to a rich dividend.
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Bias Distribution
- 57% of the sources lean Right
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