The Institute for Works of Religion (IOR), which is "exclusively" responsible for the role of asset manager and depositary of the Vatican's movable assets, expects a net profit of 29.6 million euros in 2022. The previous year's profit was $18.1 million. "During 2022, the IOR continued to expand its offering of banking and investment services, further developed its IT platforms, recruited professionals for managerial positions, promoted generational change, and implemented a structured and transparent compensation and incentive system." In terms of asset management services, the Institute is firmly committed to upholding principles consistent with the Catholic faith (Investments consistent with Catholic ethics), and the Institute's high standards in Asset Management amply validate the decision. According to the Moneyval rating, the IOR is one of the best-ranked institutions in the world. The president of the Commission of Cardinals, Cardinal Santos Abril y Castelló, recalled that "in 2022, the first of the legal proceedings promoted by the IOR to do justice for the abuses perpetrated against it was also concluded". After a lengthy legal process, 17,229,882 euros illegally stolen from the Institute prior to 2014 were recovered.
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