From the CBK Prudential Guidelines (2000):
“Core Capital” (Tier 1) - Is as defined in Section 2(1) of the Banking Act namely permanent shareholders equity (issued and fully paid-up ordinary shares and perpetual non-cumulative
preference shares), disclosed reserves such as share premium, retained earnings and 50% un-audited after tax profits less investments in subsidiaries conducting banking business, investment in equity instruments of other institutions, intangible assets (excluding computer software) and goodwill. (The current year to date 50% un-audited after tax profits will qualify as part of core capital, if and only if, the institution has made adequate provisions for loans and advances, proposed dividends and other appropriations have been deducted).
....and from the Banking Act of Kenya:
"core capital" means permanent shareholders' equity in the
form of issued and fully paid-up shares of common stock,
or in the case of foreign incorporated banks, of the assigned
capital, plus all disclosed reserves, less goodwill or any other
intangible assets;
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.