At the end of June, I was honoured to be awarded Entrepreneur of the Year at the Elevator Awards at Mercure Ardoe House Hotel.
I say honoured because our small corner of the world is home to an outsized number of successful businesses run by the brightest minds. It is inspiring that the region has so many great and growing businesses from brewers and gyms through to engineers and publishers.
The Vatican Bank has reported a more than 100 per cent increase in profits in their latest annual report thanks to what they describe as a “prudent approach” to managing investments.
In the 136 page annual report, the Institute for the Works of Religion (IOR) report that net profits for 2016 were €36 million up from €16.1 million the year before, with these gains then being distributed in aid of the Holy See’s mission.
The statement explains it was achieved through “a prudent approach in managing IOR’s investments in a year characterised by high volatility, global political uncertainty due to unexpected outcomes of major electoral events and low interest rates”.
The statement shows that in 2016 the IOR served nearly 15,000 clients worldwide, who entrusted to the Institute assets worth € 5.7 billion.
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