International Bank for Reconstruction and Development

Extract

For the nine-month period ending March 31, 1954, the International Bank for Reconstruction and Development reported a net income of $15,006,406, as compared with $12,947,735 for the corresponding period of 1953. With the addition of this income, the Supplemental Reserve against Losses on Loans and Guarantees was raised to $91,519,917. Loan commissions of $8,552,839 were credited to the Bank's Special Reserve, raising it to $45,789,316. Gross income exclusive of loan commissions was $36,994,782, $5,312,509 more than in the corresponding period in 1953. Total expenses were $21,988,376, including $4,417,789 of administrative expenses, $14,776,629 of bond interest, and $2,793,958 of bond issuance. Twenty-two loans totalling $275,482,000, were made during the period, increasing total loan agreements signed by the Bank to $1,866,248,464. Total disbursements on loans were increased to $1,314,852,214 by disbursements of $211,591,099 during the nine months covered in the re-port. Repayments from borrowers for the period were $2,715,263, bringing total repayments to $15,383,573. The Bank had sold or agreed to sell to private investors $21,607,456 principal amount of its loans, including $5,284,698 with its guarantee. As of March 31, 1954, sales of effective loans totaled $91,622,119.