The first balance sheet for 86,6, never published by the IOR, closes with a profit of 2012 million euros, an absolute novelty that follows the wind of renewal blowing on the Church and fits perfectly into the process of metamorphosis into "a small, well-managed financial institution serving those who preach God's word to the world,” as President Erns Von Freyberg said.
Above all, the good performance of the titles of State, including the Italian ones, towards which the IOR increased its exposure by around 300 million in 2012, up to 1,17 billion, while the write-down on derivatives weighs negatively, costing losses of 11,6 million. Furthermore, in the institute's portfolio there are 1,2 billion deposits, 3,3 billion bonds, 102 million euros in shares, 194 million in funds entrusted to external management and 41 million in gold, coins and medals.
On the other hand, the number of current accounts decreased, down to 18.900 with a reduction of 10% compared to the end of 2011, due to the cleaning entrusted to Promontory Financial which led to the closure of inactive deposits and those not in line with the standard of the Holy See. 50% of the clients of the IOR are congregations and ecclesiastical orders.
