Vatican bank reports increased profit
June 08, 2020
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CWN Editor's Note: The Vatican bank, officially known as the Institute for Religious Works (IOR), has reported a €38 million ($42.9 million) profit for the past year. The audited financial statements of the IOR, made public June 8, show a profit that approximately doubled the figure for the previous year.
The IOR has not been involved in the financial scandal, involving the purchase of London real estate, that has shaken other offices dealing with the Vatican’s investments.
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