APSA Reports Increased Net Assets in 2025 Amidst Papal Transition
The Administration of the Patrimony of the Apostolic See (APSA) reported an increase in Net Assets to €2.686 billion for 2025, marking an €89 million rise from the previous year. This growth was primarily driven by the revaluation of physical gold, real estate, and securities. Despite a challenging year marked by the papal succession, APSA maintained its commitment to safeguarding and strengthening the Church's patrimony. The financial strategy focused on prudence, with limited equity exposure and significant allocations in bonds and gold. The operating result for the year was €22.8 million, reflecting a return to ordinary conditions after an extraordinary previous year. 
