ASB restates capital ratios after miscalculation puts it out of compliance

Mon, 27 Nov 2017

By Paul McBeth Nov. 28 (BusinessDesk) - ASB Bank, the local arm of Commonwealth Bank of Australia, has restated its reported capital ratios after a miscalculation meant it fell short of compliance for the better part of a year. In September, the Auckland-based lender discovered it overstated its capital ratios for the September 2016, December 2016, March 2017 and June 2017 periods, which it has since addressed in its latest disclosure statement. ASB said it applied an incorrect definition of surplus common equity tier one capital in the...

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