Vatican Bank Opens its Books in Transparency Drive
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Vatican Bank Opens its Books in Transparency Drive

Photo Credit: Reuters/Stringer/Files
By Katrina Bishop
The Vatican bank published its annual accounts for the first time on Tuesday in an attempt to boost transparency and distance itself from a string of scandals.
The bank – known as the Institute for Religious Works, or IOR – described 2012 as an “economically successful year” for its customers, as net profit shot up to 86.6 million euros ($117 million) – a 325 percent rise on the year before.
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