International Bank for Reconstruction and Development

In August the International Bank reported a net income for the fiscal year ending June 30,1950 of $13,698,398. For the preceding fiscal year net income had amounted to $10,610,247. Gross income, exclusive of $5,663,064 set aside in the Bank's special reserve, amounted to $25,464,065 for the year ending June 30, 1950, as compared with $21,578,413 for the preceding fiscal year. Expenses amounted to $11,765,667, including $4,370,011 for administration purposes and $7,395,656 for bond interest and other expenses. The Bank also reported that during the period from the beginning of its operations up to June 30, 1950, income had exceeded expenses by $27,339,492 and that commissions received by it on its loans and which were set aside in a special reserve, amounted to $13,737,205 on June 30,1950. During the fiscal year total loan commitments by the Bank increased from $650,100,000 to $816,445,000, loan repayments in the amount of $552,136 were received, and cancellations amounting to $7,638,017 were effected at the request of borrowers. Also disbursements on loans amounted to $87,871,146 bringing total loan disbursements on June 30, 1950 to $614,162,160 and leaving $125,799,823 to be disbursed. As of June 30,1950 the total subscribed capital was $8,348,500,000 including $125,000,000 worth of Poland's shares, which were to be repurchased by the Bank.