"Vatican Bank" reports profit of 30.6 million euros

IOR Operations Hall. Photo: Vaticannews

For the year of 2023, the Vatican reported a profit of 30.6 million euros, according to the information from the Institute for the Works of Religion, known as the "Vatican Bank", Vaticannews reports.

The report states that 13.6 million euros of this profit were allocated for religious initiatives and charity.

It is noted that the "Vatican Bank" is one of the most stable institutions in terms of capitalization and liquidity and serves as a benchmark for investments that comply with Catholic ethics.

As reported by the UOJ, the Institute for the Works of Religion "resolutely dismissed" claims by the advisor to the head of the Office of the President of Ukraine, Mykhailo Podoliak, regarding Russian investments in the Holy See's bank, calling them "speculations".

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