ASB overstated capital in Dec disclosure statement

Thu, 15 Apr 2021

ASB Bank said it miscalculated its capital position in its disclosure statement for the six months ended December.Its actual capital position is somewhat weaker.The bank, which is owned by Commonwealth Bank of Australia, said it has "identified certain specialised lending exposures that were incorrectly classified as corporate lending exposures".That meant ASB reported its tier 1 common equity ratio as 12.2% but it was actually 11.6% while its total tier 1 ratio was reported as 13.9% when it was actually 13.2%.Total capital at Dec 31...

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