Ior: closes 2020 with profit despite pandemic, but down

(ANSA) - ROME, 11 JUN - The IOR closes 2020 with 5 billion in customer deposits, of which 3.3 billion relating to managed savings and securities custody; Net profit of 36.4 million euros (it was 38 million in 2019), the result of the 'risk-based' investment process and consistent with Catholic ethics applied to the management of its assets; 645.9 million euros in assets as at 31 December 2020, net of the distribution of profits and considering the allocation to equity reserve decided by the Commission of Cardinals. The Tier 1ratio stood at 39.7%. These are the main figures of the budget of the Institute for Works of Religion.

    The profit recorded in 2020 "is a very important result, especially if we consider the low yields that now characterize the financial markets. Do not forget the strong volatility caused by the pandemic". This was underlined by the President of the Commission of Cardinals, Card. Santos Abril yCastello. "A highly opportune result, bearing in mind that the Holy See has lost, this year, a large part of its income derived from the substantial contribution of the Vatican Museums, which remained closed for a large part of time due to the pandemic", he notes. the cardinal.

   (HANDLE).