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  • Tier 1: Core capital

    • CA-2.2.1

      Tier 1 capital shall consist of the sum of items (a) to (c) below, less the sum of items (d) to (e) below:

      (a) Permanent shareholders' equity (including issued and fully paid ordinary shares / common stock and perpetual non-cumulative preference shares, but excluding cumulative preference shares);
      (b) Disclosed reserves, which are audited and approved by the shareholders, in the form of legal, general and other reserves created by appropriations of retained earnings, share premiums, capital redemption reserves and other surplus but excluding revaluation reserves; and
      (c) Minority interests, arising on consolidation, in the equity of subsidiaries which are less than wholly owned.

      LESS:
      (d) Goodwill; and
      (e) Current year's cumulative net losses which have been reviewed or audited as per the International Standards on Auditing (ISA) by the external auditors.