The Institute for the Works of Religion, commonly known as the Vatican Bank. / Credit: Andrea Gagliarducci/CNA

Vatican City, Jun 11, 2025 / 15:48 pm (CNA).

The Institute for the Works of Religion (IOR, by its Italian acronym), popularly known as the Vatican Bank — a small financial institution with just over 100 employees founded by Pope Pius XII in 1942 — obtained a net profit of 32.8 million euros (about $37.7 million) in 2024, compared with 30.6 million euros (about $35.1 million) in 2023.

As indicated in the annual report published Wednesday by the Holy See Press Office, the net profit of 32.8 million euros represents a 7% increase compared with 2023.

This result, according to the report, is due to growth in interest income (+5.8%), commission income (+13.2%), and brokerage income (+3.6%), along with other measures implemented to ensure strict cost control.

The report also included information on the profits redistributed to the pope and to other Holy See budget items.

As required by the IOR statutes, the report was subsequently submitted to the Commission of Cardinals, which authorized the distribution of a dividend of 13.8 million euros (about $15.8 million) to the Holy Father.

It was a gesture that — according to the Vatican — reaffirms “the institute’s commitment to its mission of supporting religious and charitable works.”

According to the results for last year, the total volume of client assets managed by the IOR — which includes deposits, current accounts, assets under management, and securities in custody — rose to 5.7 billion euros (about $6.5 billion), compared with 5.4 billion euros (about $6.2 billion) the previous year. 

Furthermore, the institute’s net assets increased to 731.9 million euros (about $840.5 million), representing an increase of 64.3 million euros (about $73.8 million) compared with 2023.

One of the most notable figures is the Tier 1 capital ratio, a key financial indicator that measures a bank’s financial strength and ability to absorb losses while continuing to operate. According to the data presented, it reached 69.43%, representing a 16.1% improvement compared with the previous year. This figure was due, according to the Vatican, “to a general decrease in risks and an increase in equity.”

The performance of the institute’s asset management lines was also positive: 100% of them achieved positive gross returns, and 79% outperformed their respective benchmarks. All financial services and investments were carried out in full compliance with the social doctrine of the Catholic Church, according to the report.

The IOR’s financial statement, in which account ownership is limited to Catholic institutions, ecclesiastical bodies, Vatican entities, and embassies and ambassadors accredited to the Holy See, was unanimously approved by the Superintendency Council on April 29 and audited by Mazars Italia S.p.A.

The Vatican attributed this positive performance to the net income achieved and the “numerous improvements” made. During 2024, the IOR strengthened its key functions by adding specialized personnel and making strategic investments in digital and technological infrastructure, with the aim of improving customer service.

According to the Vatican, the institute’s liquidity ratios and Tier 1 capital ratio place it among the “most solid financial institutions in the world” in terms of capitalization and liquidity.

The institution remains the only entity authorized to offer financial services in Vatican City State.

The accounts, prepared in accordance with International Accounting Standards and International Financial Reporting Standards, confirm another year of “sustained and solid growth,” according to the report.

This story was first published by ACI Prensa, CNA’s Spanish-language news partner. It has been translated and adapted by CNA.

The Institute for the Works of Religion, commonly known as the Vatican Bank. / Credit: Andrea Gagliarducci/CNA

Vatican City, Jun 11, 2025 / 15:48 pm (CNA).

The Institute for the Works of Religion (IOR, by its Italian acronym), popularly known as the Vatican Bank — a small financial institution with just over 100 employees founded by Pope Pius XII in 1942 — obtained a net profit of 32.8 million euros (about $37.7 million) in 2024, compared with 30.6 million euros (about $35.1 million) in 2023.

As indicated in the annual report published Wednesday by the Holy See Press Office, the net profit of 32.8 million euros represents a 7% increase compared with 2023.

This result, according to the report, is due to growth in interest income (+5.8%), commission income (+13.2%), and brokerage income (+3.6%), along with other measures implemented to ensure strict cost control.

The report also included information on the profits redistributed to the pope and to other Holy See budget items.

As required by the IOR statutes, the report was subsequently submitted to the Commission of Cardinals, which authorized the distribution of a dividend of 13.8 million euros (about $15.8 million) to the Holy Father.

It was a gesture that — according to the Vatican — reaffirms “the institute’s commitment to its mission of supporting religious and charitable works.”

According to the results for last year, the total volume of client assets managed by the IOR — which includes deposits, current accounts, assets under management, and securities in custody — rose to 5.7 billion euros (about $6.5 billion), compared with 5.4 billion euros (about $6.2 billion) the previous year. 

Furthermore, the institute’s net assets increased to 731.9 million euros (about $840.5 million), representing an increase of 64.3 million euros (about $73.8 million) compared with 2023.

One of the most notable figures is the Tier 1 capital ratio, a key financial indicator that measures a bank’s financial strength and ability to absorb losses while continuing to operate. According to the data presented, it reached 69.43%, representing a 16.1% improvement compared with the previous year. This figure was due, according to the Vatican, “to a general decrease in risks and an increase in equity.”

The performance of the institute’s asset management lines was also positive: 100% of them achieved positive gross returns, and 79% outperformed their respective benchmarks. All financial services and investments were carried out in full compliance with the social doctrine of the Catholic Church, according to the report.

The IOR’s financial statement, in which account ownership is limited to Catholic institutions, ecclesiastical bodies, Vatican entities, and embassies and ambassadors accredited to the Holy See, was unanimously approved by the Superintendency Council on April 29 and audited by Mazars Italia S.p.A.

The Vatican attributed this positive performance to the net income achieved and the “numerous improvements” made. During 2024, the IOR strengthened its key functions by adding specialized personnel and making strategic investments in digital and technological infrastructure, with the aim of improving customer service.

According to the Vatican, the institute’s liquidity ratios and Tier 1 capital ratio place it among the “most solid financial institutions in the world” in terms of capitalization and liquidity.

The institution remains the only entity authorized to offer financial services in Vatican City State.

The accounts, prepared in accordance with International Accounting Standards and International Financial Reporting Standards, confirm another year of “sustained and solid growth,” according to the report.

This story was first published by ACI Prensa, CNA’s Spanish-language news partner. It has been translated and adapted by CNA.

LAPD rally as a curfew takes effect in Los Angeles on June 10, 2025, following days of protests in response to federal immigration operations that saw clashes spread across downtown. / Credit: BENJAMIN HANSON/Middle East Images/AFP via Getty Images

CNA Staff, Jun 11, 2025 / 15:16 pm (CNA).

Archbishop José Gomez of Los Angeles has called for a day of prayer amid growing violence during protests against U.S. Immigration and Customs Enforcement (ICE) following arrests of unauthorized immigrants living in the city.

The archbishop has instructed parishes across the archdiocese to hold special Masses for peace and unity, encouraging both Catholics and non-Catholics to pray for peace amid the rioting. 

Father Juan Ochoa, who runs the archdiocesan worship office, in a message to parishioners encouraged people to look to Christ.

“In this time of unrest and uncertainty, we turn our hearts to God, the source of all peace,” Ochoa said in the June 10 message.

The priest encouraged parishes to offer special intentions and suggested people partake in prayerful observances such as Liturgy of the Hours, Eucharistic adoration, and the Divine Mercy Chaplet. The message also encouraged people to pray the rosary as a family, fast, read sacred Scripture, and pray the Sacred Heart novena. 

“As followers of Jesus and members of his Church, we are called to be instruments of reconciliation, healing, and hope,” he said. 

The archbishop was scheduled to celebrate Mass at noon on Wednesday at the Cathedral of Our Lady of the Angels “to unite our communities in prayer during this time of unrest,” according to the archdiocese.

The prelate “invites all Catholics and people of goodwill to pray for our nation, and especially for our immigrant and local community during this tumultuous time,” Ochoa said. 

The archdiocese is also encouraging Catholics to participate in a candlelight prayer vigil. 

Michael Donaldson, senior director for the archdiocesan Office of Life, Justice, and Peace, invited residents of the city to light a candle at 6 p.m. on June 10 “so that through prayer, wherever we may be, we are united for peace in our communities.”

Neighbors gathered in Grand Park for a peaceful interfaith prayer vigil in the evening, according to a social media post by the archdiocese.

An interfaith prayer vigil had previously been scheduled for Sunday evening at Los Angeles City Hall but was postponed amid escalating violence.

“With so many in fear, we are hoping to share a message of peace and hope, uniting our prayers with others throughout Southern California to end the violence, bring healing, and for a path toward reform of our broken immigration system,” Donaldson said.

As tensions escalated over the weekend, Gomez in a statement called for “restraint and calm,” also calling on Congress to fix the nation’s “broken” immigration system.

After ICE raids at multiple work sites, unrest began on June 6 and escalated as conflicts between protesters and law enforcement intensified over the weekend. 

On Saturday night, President Donald Trump deployed the National Guard despite California Gov. Gavin Newsom’s opposition. 

The president has since deployed hundreds of Marines to the state to join National Guard troops in protecting federal property and personnel and providing security to ICE agents. 

Meanwhile, Los Angeles Mayor Karen Bass enacted a curfew in parts of the downtown area.

LAPD rally as a curfew takes effect in Los Angeles on June 10, 2025, following days of protests in response to federal immigration operations that saw clashes spread across downtown. / Credit: BENJAMIN HANSON/Middle East Images/AFP via Getty Images

CNA Staff, Jun 11, 2025 / 15:16 pm (CNA).

Archbishop José Gomez of Los Angeles has called for a day of prayer amid growing violence during protests against U.S. Immigration and Customs Enforcement (ICE) following arrests of unauthorized immigrants living in the city.

The archbishop has instructed parishes across the archdiocese to hold special Masses for peace and unity, encouraging both Catholics and non-Catholics to pray for peace amid the rioting. 

Father Juan Ochoa, who runs the archdiocesan worship office, in a message to parishioners encouraged people to look to Christ.

“In this time of unrest and uncertainty, we turn our hearts to God, the source of all peace,” Ochoa said in the June 10 message.

The priest encouraged parishes to offer special intentions and suggested people partake in prayerful observances such as Liturgy of the Hours, Eucharistic adoration, and the Divine Mercy Chaplet. The message also encouraged people to pray the rosary as a family, fast, read sacred Scripture, and pray the Sacred Heart novena. 

“As followers of Jesus and members of his Church, we are called to be instruments of reconciliation, healing, and hope,” he said. 

The archbishop was scheduled to celebrate Mass at noon on Wednesday at the Cathedral of Our Lady of the Angels “to unite our communities in prayer during this time of unrest,” according to the archdiocese.

The prelate “invites all Catholics and people of goodwill to pray for our nation, and especially for our immigrant and local community during this tumultuous time,” Ochoa said. 

The archdiocese is also encouraging Catholics to participate in a candlelight prayer vigil. 

Michael Donaldson, senior director for the archdiocesan Office of Life, Justice, and Peace, invited residents of the city to light a candle at 6 p.m. on June 10 “so that through prayer, wherever we may be, we are united for peace in our communities.”

Neighbors gathered in Grand Park for a peaceful interfaith prayer vigil in the evening, according to a social media post by the archdiocese.

An interfaith prayer vigil had previously been scheduled for Sunday evening at Los Angeles City Hall but was postponed amid escalating violence.

“With so many in fear, we are hoping to share a message of peace and hope, uniting our prayers with others throughout Southern California to end the violence, bring healing, and for a path toward reform of our broken immigration system,” Donaldson said.

As tensions escalated over the weekend, Gomez in a statement called for “restraint and calm,” also calling on Congress to fix the nation’s “broken” immigration system.

After ICE raids at multiple work sites, unrest began on June 6 and escalated as conflicts between protesters and law enforcement intensified over the weekend. 

On Saturday night, President Donald Trump deployed the National Guard despite California Gov. Gavin Newsom’s opposition. 

The president has since deployed hundreds of Marines to the state to join National Guard troops in protecting federal property and personnel and providing security to ICE agents. 

Meanwhile, Los Angeles Mayor Karen Bass enacted a curfew in parts of the downtown area.

Pope Leo XIV meets with U.N. Secretary-General António Guterres on June 11, 2025, at the Vatican. / Credit: Vatican Media

Vatican City, Jun 11, 2025 / 13:57 pm (CNA).

Pope Leo XIV on Wednesday received U.N. Secretary-General António Guterres in an audience held in the study of the Paul VI Hall at the Vatican.

Guterres subsequently met with Cardinal Pietro Parolin, secretary of state of the Holy See, and Archbishop Paul Richard Gallagher, secretary for relations with states and international organizations.

Although the Vatican did not provide details about the private meeting with the pontiff, it indicated that during the conversation with the Secretariat of State the Holy See’s support for the United Nations’ commitment to world peace was expressed.

Some ongoing processes and upcoming summits organized by the United Nations were also discussed as well as the difficulties the organization faces in addressing current crises around the world.

During the course of the conversation, specific situations of conflict and instability were also discussed.

The United Nations was established in 1945 with the aim of fostering international peace and security. Currently 193 countries are members of the organization, which has its headquarters in New York.

Various initiatives promoted by the U.N. clash head-on with Christian values, such as the demand for the decriminalization of abortion under the euphemism of “sexual and reproductive health,” its explicit support for gender ideology, and the promotion of the 2030 Agenda, which clashes in essential aspects with the doctrine of the Catholic Church.

Since 1964, the Vatican has held the position of permanent observer to the U.N., which means the Holy See is not a full member of the organization but rather an observer state.

The current permanent observer, Archbishop Gabriele Caccia, participates in its debates by contributing ideas but does not have the right to vote.

Guterres, 76, is the ninth secretary-general of the United Nations, a position he assumed on Jan. 1, 2017. He was born in Lisbon, Portugal, in 1949. In addition to being a politician and businessman, he is also an electrical engineer and professor.

This story was first published by ACI Prensa, CNA’s Spanish-language news partner. It has been translated and adapted by CNA.

Pope Leo XIV meets with U.N. Secretary-General António Guterres on June 11, 2025, at the Vatican. / Credit: Vatican Media

Vatican City, Jun 11, 2025 / 13:57 pm (CNA).

Pope Leo XIV on Wednesday received U.N. Secretary-General António Guterres in an audience held in the study of the Paul VI Hall at the Vatican.

Guterres subsequently met with Cardinal Pietro Parolin, secretary of state of the Holy See, and Archbishop Paul Richard Gallagher, secretary for relations with states and international organizations.

Although the Vatican did not provide details about the private meeting with the pontiff, it indicated that during the conversation with the Secretariat of State the Holy See’s support for the United Nations’ commitment to world peace was expressed.

Some ongoing processes and upcoming summits organized by the United Nations were also discussed as well as the difficulties the organization faces in addressing current crises around the world.

During the course of the conversation, specific situations of conflict and instability were also discussed.

The United Nations was established in 1945 with the aim of fostering international peace and security. Currently 193 countries are members of the organization, which has its headquarters in New York.

Various initiatives promoted by the U.N. clash head-on with Christian values, such as the demand for the decriminalization of abortion under the euphemism of “sexual and reproductive health,” its explicit support for gender ideology, and the promotion of the 2030 Agenda, which clashes in essential aspects with the doctrine of the Catholic Church.

Since 1964, the Vatican has held the position of permanent observer to the U.N., which means the Holy See is not a full member of the organization but rather an observer state.

The current permanent observer, Archbishop Gabriele Caccia, participates in its debates by contributing ideas but does not have the right to vote.

Guterres, 76, is the ninth secretary-general of the United Nations, a position he assumed on Jan. 1, 2017. He was born in Lisbon, Portugal, in 1949. In addition to being a politician and businessman, he is also an electrical engineer and professor.

This story was first published by ACI Prensa, CNA’s Spanish-language news partner. It has been translated and adapted by CNA.

Bishop Wilhelm Krautwaschl, the bishop of Graz-Seckau in Austria, expressed being “stunned and shaken” following a deadly shooting at a school in Graz on June 10, 2025. / Credit: Screenshot / YouTube / Katholische Kirche Steiermark

CNA Deutsch, Jun 11, 2025 / 13:01 pm (CNA).

The bishop of Graz-Seckau in Austria, Wilhelm Krautwaschl, expressed being “stunned and shaken” following a deadly shooting at a school in Graz that claimed 10 lives. 

On Tuesday, a 21-year-old former student of the Bundes-Oberstufenrealgymnasium Dreischützengasse killed nine people before taking his own life.

“This horrific act at a school in Graz leaves us stunned and shaken,” said Krautwaschl, speaking on behalf of himself and Auxiliary Bishop Johannes Freitag. “Our deepest sympathy goes out to the students, the teaching staff, and the families. We accompany all of them with our prayers and are here to support everyone affected to the best of our ability. At the same time, we thank all those who are offering help.”

Austrian broadcaster ORF (Austrian Broadcasting Corporation) reported: “According to the authorities, nine young people between the ages of 15 and 17 and one teacher are among the dead. Eleven injured people are being treated in hospitals.”

During his general audience on Wednesday, Pope Leo XIV prayed for the victims of the mass shooting. 

“I want to assure you of my prayers for the victims of the tragedy at the school in Graz,” the pope said. “I am close to the families, the teachers, and the classmates. May the Lord welcome these children into his peace.”

The motive of the attacker — who had left the school without graduating — remains unknown. 

Cardinal Christoph Schönborn, retired archbishop of Vienna, said on X: “Above all the shock, grief, and anxiety, there is one big question: ‘Why?’” adding that “we will probably never find a satisfactory answer.”

Regarding the police operation, ORF reported that “special units were alerted immediately after the first emergency calls came in around 10 a.m. The building was subsequently evacuated. Students were guided, together with teaching staff, to a secure meeting point.”

Bishop Georg Bätzing, chairman of the German Bishops’ Conference, expressed his “sincere condolences” and “deep sympathy” in a statement on X. 

“Many people, including students, were brutally injured and suddenly torn from life,” Bätzing wrote. “There are no adequate words for such a senseless and cruel act. Our thoughts and prayers are with the victims and their families, with all who had to witness this act of violence, and with the chaplains and emergency responders on the ground.”

“May God’s support bring strength, comfort, and hope to all those affected,” Bätzing continued. “We include in our prayers all those impacted by this act of violence.”

This story was based on a report published by CNA Deutsch, CNA’s German-language news partner.

Bishop Wilhelm Krautwaschl, the bishop of Graz-Seckau in Austria, expressed being “stunned and shaken” following a deadly shooting at a school in Graz on June 10, 2025. / Credit: Screenshot / YouTube / Katholische Kirche Steiermark

CNA Deutsch, Jun 11, 2025 / 13:01 pm (CNA).

The bishop of Graz-Seckau in Austria, Wilhelm Krautwaschl, expressed being “stunned and shaken” following a deadly shooting at a school in Graz that claimed 10 lives.

Tommy Schultz, CEO of the American Federation for Children (right), speaks to “EWTN News Nightly” anchor Mark Irons on Friday, June 6, 2025. / Credit: “EWTN News Nightly”/Screenshot

Washington, D.C. Newsroom, Jun 11, 2025 / 12:16 pm (CNA).

Florida has emerged as a national leader in Catholic school enrollment as a product of Gov. Ron DeSantis’ education policy, the leader of a national school choice group says.

Step Up For Students, a Florida program that administers state-funded K–12 scholarships to expand school choice, reports that Catholic school enrollment in the state has recently increased by 12.1%, a contrast to the 13.2% decline seen nationwide.

Tommy Schultz, CEO of the national school choice group American Federation for Children, discussed the implications of these figures in an interview with “EWTN News Nightly,” crediting the accessibility of Florida’s school choice credit for the increase in enrollment. 

“Gov. DeSantis signed into law the big expansion that made every single family eligible for school choice funding in the state. And guess what? Florida is up 12%,” Schultz told anchor Mark Irons.

“In Florida, [families are] eligible for about $8,000 per kid per year with state funding, essentially. Rather than all of your taxpayer funds just going into the public system, now all parents fully control their funding for education in Florida,” Schultz said. 

In 2023, DeSantis signed a bill to expand opportunities for school choice. According to the Florida state government there are currently “1.4 million students utilizing a school choice option in Florida.”

Schultz emphasized the broader national impact of the Step Up For Students findings, particularly in the federal context.

“It couldn’t come at a better time,” he said. “Congress is currently negotiating a comprehensive legislative package, and there’s momentum to include school choice provisions that would extend similar opportunities to families in all 50 states.”

He contrasted Florida’s growth with steep declines in other states. “In New York, Catholic school enrollment has dropped by 31%, Pennsylvania is down 23%, and Illinois by 20%. These declines are driven by a combination of government regulation and financial challenges.”

The success in Florida, Schultz suggested, could serve as an example for national reform, including potentially even solving poverty.

“Now, where every family could theoretically be able to control their child’s education funding, like we see in Florida, like we see in Arizona and other places, that is just a total game changer for families, and it could bring a lot of children out of poverty,” he said.

Earlier this year, CNA reported on the National Catholic Educational Association’s latest annual report of Catholic school data, which found that “8% of students use school choice programs, which is up by nearly 5% from last year.”

Tommy Schultz, CEO of the American Federation for Children (right), speaks to “EWTN News Nightly” anchor Mark Irons on Friday, June 6, 2025. / Credit: “EWTN News Nightly”/Screenshot

Washington, D.C. Newsroom, Jun 11, 2025 / 12:16 pm (CNA).

Florida has emerged as a national leader in Catholic school enrollment as a product of Gov. Ron DeSantis’ education policy, the leader of a national school choice group says.

Step Up For Students, a Florida program that administers state-funded K–12 scholarships to expand school choice, reports that Catholic school enrollment in the state has recently increased by 12.1%, a contrast to the 13.2% decline seen nationwide.

Tommy Schultz, CEO of the national school choice group American Federation for Children, discussed the implications of these figures in an interview with “EWTN News Nightly,” crediting the accessibility of Florida’s school choice credit for the increase in enrollment. 

“Gov. DeSantis signed into law the big expansion that made every single family eligible for school choice funding in the state. And guess what? Florida is up 12%,” Schultz told anchor Mark Irons.

“In Florida, [families are] eligible for about $8,000 per kid per year with state funding, essentially. Rather than all of your taxpayer funds just going into the public system, now all parents fully control their funding for education in Florida,” Schultz said. 

In 2023, DeSantis signed a bill to expand opportunities for school choice. According to the Florida state government there are currently “1.4 million students utilizing a school choice option in Florida.”

Schultz emphasized the broader national impact of the Step Up For Students findings, particularly in the federal context.

“It couldn’t come at a better time,” he said. “Congress is currently negotiating a comprehensive legislative package, and there’s momentum to include school choice provisions that would extend similar opportunities to families in all 50 states.”

He contrasted Florida’s growth with steep declines in other states. “In New York, Catholic school enrollment has dropped by 31%, Pennsylvania is down 23%, and Illinois by 20%. These declines are driven by a combination of government regulation and financial challenges.”

The success in Florida, Schultz suggested, could serve as an example for national reform, including potentially even solving poverty.

“Now, where every family could theoretically be able to control their child’s education funding, like we see in Florida, like we see in Arizona and other places, that is just a total game changer for families, and it could bring a lot of children out of poverty,” he said.

Earlier this year, CNA reported on the National Catholic Educational Association’s latest annual report of Catholic school data, which found that “8% of students use school choice programs, which is up by nearly 5% from last year.”