Spain’s Catholic church counts its blessings and manages its financial assets

A KPMG report on Spain’s Episcopal Conference revealed that the Church in this country generates an annual €32.5 billion.

Property accounts for most of the wealth, complemented by companies, universities, schools, hospitals and the financial assets of investment funds.

Banks like Santander and CaixaBank provide experts with a comprehensive knowledge of the Church’s finances while orders like the Jesuits, Augustinians and Marists usually manage assets via private bankers and fund managers.

One of these, Portocolom, recently revealed more than half of the €1 billion financial assets they advise on belongs to religious orders. “Some possess assets amounting to €2 million, but others have more than €50 million,” the source said.

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