Asian Development Bank - Fighting Poverty in Asia and the Pacific
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Capital Markets

Home : About ADB : Financial Resources : Capital Markets : Credit Fundamentals : Capital Structure

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Capital Structure

With a powerful balance sheet, backed by 67 members, ADB's capital structure provides the greatest levels of security for fixed income investors.

Subscribed shareholder capital consists of paid-in capital and callable capital.


Paid-in capital constitutes the equity portion of capital available for ADB's OCR lending operations. This is supplemented by retained earnings and leveraged by the proceeds of ADB's borrowings.

Callable capital is available only for the protection of ADB's creditors - mainly investors in ADB bonds and holders of ADB guarantees - in the unlikely event of a wide scale default by ADB's borrowers.

ADB has raised its capital base 4 times since 1966 and has had full support from shareholders with each capital increase.

ADB has never made a call on callable capital.

Capitalization
(as of 31 December)
US$ MILLION

2007 2006 2005 2004 2003 2002
Subscribed Capital 55,978 53,169 50,163 54,162 51,997 47,234
Callable Capital 52,041 49,429 46,635 50,352 48,340 43,912
Paid-in Capital 3,937 3,740 3,528 3,809 3,657 3,322
  Less: Other Adjustments 95 87 79 84 87 75
Net Paid-in Capital 3,842 3,653 3,449 3,726 3,570 3,247
Retained Earnings 10,413 9,490 8,848 9,541 9,282 9,105
Total 14,255 13,142 12,297 13,267 12,852 12,352
Outstanding Borrowings (After Swaps) 30,537 27,116 24,076 23,470 25,571 26,120
Total Capitalization 44,792 40,258 36,373 36,737 38,423 38,472

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