IOR posts $38M profit amid financial clouds over Vatican

According to the bank’s 2024 annual report, the IOR was able to issue a dividend of $15m for charitable works

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 mi…