(RNS1-JULY 8) Profits at the Vatican Bank, formally known as the Institute for the Works of Religion, have decreased from 86 million euros in 2012 to 2.9 million euros last year after extensive internal reforms. For use with RNS-VATICAN-BANK transmitted July 8, 2014. Photo courtesy IOR
RNS-VATICAN-BANK
The Vatican Bank is housed in the Bastion of Nicholas V in Vatican City. The space was formerly used as a papal prison. Profits at the bank, formally known as the Institute for the Works of Religion, have decreased from 86 million euros in 2012 to 2.9 million euros last year after extensive internal reforms.
