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 31,2026June 30,2025June 30,2024June 30,2023June 30,2022
Assets
Cash, Deposits, Trading and other Liquid Asset Securities51,12151,41940,31447,47846,350
Investments:
Loans, Net of Reserves against Losses46,30442,22936,43731,41426,223
Equity Investments12,97811,77711,12110,77811,137
Debt Securities14,35813,51411,1899,3106,733
Total Investments73,64067,52058,74751,50244,093
Other Assets, including Derivative Assets11,29110,8019,12611,5678,567
Total Assets136,052129,740108,187110,54799,010
Liabilities
Borrowings Outstanding75,88071,45055,75552,44348,269
Other liabilities, including Derivative Liabilities18,05617,36214,96023,06617,936
Total Liabilities93,93688,81270,71575,50966,205
Capital
Paid-in Capital24,12624,00923,22022,59621,749
Undesignated Retained Earnings16,12314,95213,13311,58910,840
Designated Retained Earnings592350162221298
Accumulated Other Comprehensive Income (Loss)1,2751,617957632(82)
Total Capital42,11640,92837,47235,03832,805
Total Liabilities and Capital136,052129,740108,187110,54799,010
  • Expressed in millions of U.S. dollars.

Consolidated Statements of Operations
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For the period/fiscal year endedMarch 31,2026June 30,2025June 30,2024June 30,2023June 30,2022
Income from loans and guarantees, including realized gains and losses on loans and associated derivatives2,4603,3733,2042,2901,156
(Provision) release of provision for losses on loans, off-balance sheet credit exposures and other receivables(173)(56)(9)(22)(126)
Income (loss) from equity investments, including realized and unrealized gains and losses on equity and associated derivatives746517142191208
Income from debt securities, including realized gains and losses on debt securities and associated derivatives611819811518414
(Provision) release of provision for losses on available-for-sale debt securities96(12)(7)(14)
Income (loss) from liquid asset trading activities1,5632,2982,3911,464(413)
Charges on borrowings(2,722)(3,596)(3,815)(2,598)(302)
Administrative expenses(1,227)(1,679)(1,516)(1,430)(1,441)
Other income and expenses, net257367347297261
Foreign currency transaction gains (losses) on non-trading activities(55)(43)(115)(86)76
Upstream and Advisory services income180259268247233
Upstream and Advisory services expenses(250)(373)(339)(317)(287)
Income (loss) before net unrealized gains and losses on loans, debt securities, borrowings and related derivatives1,3991,8921,357547(235)
Net unrealized (losses) gains on loans, debt securities, borrowings and related derivatives14115128125(229)
Net income (loss)1,4132,0071,485672(464)
  • Expressed in millions of U.S. dollars.

Summary Consolidated Statements of Comprehensive Income
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For the period/fiscal year endedMarch 31,2026June 30,2025June 30,2024June 30,2023June 30,2022
Net income (loss)1,4132,0071,485672(464)
Net unrealized gains (losses) on borrowings(307)(268)74(50)240
Net unrecognized net actuarial gains (losses) and unrecognized prior service credits (cost) on benefit plans(46)8601307021,074
Net unrealized gains (losses) on debt securities116812162(278)
Total comprehensive income (loss)1,0712,6671,8101,386572
  • Expressed in millions of U.S. dollars.

Investment Program
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Expressed in millions of U.S. dollars
FY26 YTDFY25 YTD
Total Own Account Commitments24,65121,124
Total Private Capital Mobilization47,17231,691
  • Expressed in millions of U.S. dollars.

Disbursements
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Expressed in millions of U.S. dollars
FY26 YTDFY25 YTD
Disbursements18,14317,293
  • Expressed in millions of U.S. dollars.

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

Expressed in millions of U.S. dollars
Non-Performing Loans
FY26 Q31.4%
FY25 Q31.5%
FY251.5%
FY241.8%
FY232.7%
FY223.9%
FY214.4%
FY205.5%
FY194.3%

Key Ratios

As ofMarch 31,2026June 30,2025June 30,2024June 30,2023June 30,2022
Overall Liquidity Ratio75%72%81%104%111%
Capital Utilization Ratio (CUR)64%62%61%61%62%

Capital Utilization Ratio

Expressed in millions of U.S. dollars
Capital Utilization Ratio
FY26 Q364%
FY2562%
FY2461%
FY2361%
FY2262%
FY2167%
FY2072%
FY1978%