- Sep 29, 2020
The Institute for the Works of Religion, often referred to as the Vatican bank, made a profit of 38 million euros (about $42.9 million) in 2019, more than twice the profit reported in the previous year, according to its annual report.
For Pope Francis, 2019 included his sixth anniversary as pope, his 83rd birthday and his 50th anniversary as a priest, but it also was a year that saw him still confronted with the clerical sexual abuse crisis and with Vatican financial scandals.
While it’s tough for outsiders to assess the latest round of purported scoops about Vatican finances and stern denials, what’s becoming clear, at least, are the dueling narratives at work.
The Vatican apparently has suspended five employees after raids on Vatican offices.
Vatican police have seized documents and electronics during a search of the Holy See’s secretariat of state and financial watchdog agency after receiving official complaints about “past financial operations.”