The Institute for Religious Works (IOR), known as the «Vatican Bank,» published its 2025 Sustainability Report on Tuesday, highlighting a net profit of 51 million euros and an increase in economic value generated to 67.6 million euros, compared to the 50 million recorded the previous year. The document also underscores the Institute’s commitment to transparent and responsible financial management, inspired by the Social Doctrine of the Church.
The report details the progress made in 2025 toward integrating environmental, social, and governance (ESG) criteria into the Institute’s activities. According to the IOR, its investment policy continues to be guided by the principles of the Catholic faith, excluding investments in companies whose activities are considered harmful to human life, the environment, society, or good governance. In this context, all asset management strategies were fully compatible with Catholic ethical principles and generated positive gross returns.
More benefits for the mission
On the economic front, the Institute explains that the value generated was distributed primarily among the Holy Father (36 %), employees (23 %), and suppliers (14 %), while the remainder was allocated to strengthening the IOR’s equity to ensure its long-term soundness and sustainability. Furthermore, the management of the assets entrusted to the Institute generated approximately 142.5 million euros in value, contributing to the Institute’s social and financial mission in service to the universal Church.
The report also highlights employee training. In 2025, the IOR provided more than 2,700 hours of technical and specialized training to its employees, including 300 hours dedicated to regulatory compliance, risk management, and auditing, in addition to religious training. It also maintained a financial education program for 300 clients, with the goal of promoting a financial culture consistent with Catholic ethical principles.
Digitalization and Environmental Sustainability
In terms of environmental initiatives, the Institute highlights the push toward digitization through the development of the «IORPortal» online banking service and the complete digitization of archived documentation. These measures led to a 37 % reduction in paper purchases during the year, while all waste generated was sent for recycling.
The IOR concludes that the publication of the 2025 Sustainability Report reflects its commitment to integrating economic responsibility, care for people, and protection of the environment into a financial model geared toward creating sustainable value and consistent with the Social Doctrine of the Church. Currently, the Institute provides banking and investment services to more than 12,000 clients affiliated with the Catholic Church in more than 110 countries.
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