The Roman Catholic Church and the Bishop Conference of the Philippines (CBCP) is richer by P3.89 billion on the first quarter of 2017 according to financial and investment data published by the Financial Times.
The biggest source of the profit increase came from the Church shares on several corporations including the Bank of the Philippine Islands (BPI), where the church is 4th largest stockholder.
Other source of profit increase includes shares from San Miguel Corporation, Philex Mining Corporation, Ayala Corporation, Concrete Aggregates Corporation, EEI Corporation, and some Catholic schools.
With the total net worth of P162.35 billion on December 2016, the Church’s total net worth is now at P476.21 billion.
Not known to many Catholics who still give church donations during Sunday mass, the Catholic Church is the largest non-taxable organization in the country.
Of all Catholic Archdiocese in the country, the Archdiocese of Manila is the richest with P12.35 billion, followed by Cebu, Iloilo, Bacolod, Tuguegarao, and Baguio. All Archdiocese hold shares in BPI.
Meanwhile, the priest assigned in Talisay City has been asking churchgoers to increase the donations to fund the Church ongoing repair. /Chito Mercado/
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