Financial Results

The International Finance Corporation (IFC) is the largest global development institution focused exclusively on the private sector. IFC helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments.

Consolidated Balance Sheets
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As ofMarch 31,2025June 30,2024June 30,2023June 30,2022June 30,2021
Assets
Cash, Deposits, Trading and other Liquid Asset Securities45,18940,31447,47846,35051,448
Investments:
Loans, Net of Reserves against Losses41,07836,43731,41426,22325,644
Equity Investments11,30611,12110,77811,13712,027
Debt Securities13,10911,1899,3106,7337,320
Total Investments65,49358,74751,50244,09344,991
Other Assets, including Derivative Assets10,3819,12611,5678,5678,825
Total Assets121,063108,187110,54799,010105,264
Liabilities
Borrowings Outstanding65,06655,75552,44348,26955,699
Other liabilities, including Derivative Liabilities16,90314,96023,06617,93618,321
Total Liabilities81,96970,71575,50966,20574,020
Capital
Paid-in Capital23,68723,22022,59621,74920,760
Undesignated Retained Earnings14,22513,13311,58910,84011,395
Designated Retained Earnings428162221298207
Accumulated Other Comprehensive Income (Loss)754957632(82)(1,118)
Total Capital39,09437,47235,03832,80531,244
Total Liabilities and Capital121,063108,187110,54799,010105,264
  • Expressed in millions of U.S. dollars.

Consolidated Statements of Operations
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For the period/fiscal year endedMarch 31,2025June 30,2024June 30,2023June 30,2022June 30,2021
Income from loans and guarantees, including realized gains and losses on loans and associated derivatives2,5433,2042,2901,1561,116
(Provision) release of provision for losses on loans, off-balance sheet credit exposures and other receivables(103)(9)(22)(126)201
Income (loss) from equity investments, including realized and unrealized gains and losses on equity and associated derivatives1411421912083,201
Income from debt securities, including realized gains and losses on debt securities and associated derivatives611811518414340
(Provision) release of provision for losses on available-for-sale debt securities5(12)(7)(14)(3)
Income (loss) from liquid asset trading activities1,7392,3911,464(413)327
Charges on borrowings(2,697)(3,815)(2,598)(302)(326)
Administrative expenses(1,171)(1,516)(1,430)(1,441)(1,355)
Other income and expenses, net232347297261303
Foreign currency transaction gains (losses) on non-trading activities(20)(115)(86)76(148)
Upstream and Advisory services income182268247233237
Upstream and Advisory services expenses(247)(339)(317)(287)(277)
Income (loss) before net unrealized gains and losses on loans, debt securities, borrowings and related derivatives1,2151,357547(235)3,616
Net unrealized (losses) gains on loans, debt securities, borrowings and related derivatives143128125(229)806
Income (loss) before grants to IDA1,3581,485672(464)4,422
Grants to IDA----(213)
Net income (loss)1,3581,485672(464)4,209
  • Expressed in millions of U.S. dollars.

Summary Consolidated Statements of Comprehensive Income
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For the period/fiscal year endedMarch 31,2025June 30,2024June 30,2023June 30,2022June 30,2021
Net income (loss)1,3581,485672(464)4,209
Net unrealized gains (losses) on borrowings(230)74(50)240(269)
Net unrecognized net actuarial gains (losses) and unrecognized prior service credits (cost) on benefit plans(9)1307021,074982
Net unrealized gains (losses) on debt securities3612162(278)153
Total comprehensive income (loss)1,1551,8101,3865725,075
  • Expressed in millions of U.S. dollars.

Investment Program
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FY25 YTDFY24 YTD
Total Long-Term Finance Commitments 41,79228,515
Total Short-Term Finance Commitments 10,5288,476
  • Expressed in millions of U.S. dollars.

Disbursements
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FY25 YTDFY24 YTD
Disbursements17,29314,356
  • Expressed in millions of U.S. dollars.

Non-Performing Loans as a Percentage of Loans Disbursed and Outstanding

Non-Performing Loans
FY25 Q31.5%
FY24 Q30%
FY241.8%
FY232.7%
FY223.9%
FY214.4%
FY205.5%
FY194.3%
FY184.6%

Key Ratios

As ofMarch 31,2025June 30,2024June 30,2023June 30,2022June 30,2021
Overall Liquidity Ratio74%81%104%111%114%
Capital Utilization Ratio (CUR)61%61%61%62%67%

Capital Utilization Ratio

Capital Utilization Ratio
FY25 Q361%
FY2461%
FY2361%
FY2262%
FY2167%
FY2072%
FY1978%
FY1881%