natgillin/translations-raw huggingface dataset:
Table 5 illustrates that, apart from the huge losses it booked in 2011 due to the PSI programme (EUR 11735 million [32]), the Bank suffered from declining income (due, among other reasons, to the higher costs of deposits) and from high and rising impairment losses on its loan portfolios in Greece and abroad.
U tablici 5. prikazano je da je, osim golemih gubitaka uknjiženih 2011. zbog programa UPS-a (11735 milijuna EUR [32]), Banka pretrpjela pad prihoda (prouzročen, među ostalim, većim troškom depozita) i sve veće gubitke od umanjenja vrijednosti u svojim kreditnim portfeljima u Grčkoj i u inozemstvu.
The liquidity position of the Bank was hit by deposit outflows but its net loan-to-deposit ratio remained relatively low compared to other Greek banks (118 % at 31 December 2012 [33]).
U pogledu likvidnosti Banka je pretrpjela štetu uslijed odljeva depozita, ali je njezin neto omjer kredita i depozita ostao relativno nizak u usporedbi s drugim grčkim bankama (118 % 31. prosinca 2012. [33]).
Following the stress test of 2013, according to which the capital needs of the Bank were estimated at EUR 2183 million in the baseline scenario, the Bank sought to raise EUR 2,5 billion of capital on the market.
Nakon ispitivanja otpornosti na stres iz 2013., prema kojem su potrebe Banke za kapitalom procijenjene na 2183 milijuna EUR u osnovnom scenariju, Banka je nastojala prikupiti 2,5 milijarde EUR kapitala na tržištu.
On 6 May 2014, the Bank announced the launch of the book-building exercise [34] for an amount of EUR 2,5 billion [35].
Banka je 6. svibnja 2014. najavila početak prikupljanja ponuda (book-building) [34] u iznosu od 2,5 milijardi EUR [35].
On 9 May 2014, the Bank announced the issue and placement of 1136,4 million new ordinary shares, at a price of EUR 2,20 per share, for total gross proceeds of EUR 2,5 billion [36].
Banka je 9. svibnja 2014. objavila izdavanje i plasman 1136,4 milijuna novih redovnih dionica po cijeni od 2,20 EUR po dionici, za ukupni bruto primitak od 2,5 milijarde EUR [36].
The share capital increase was carried out through the cancellation of pre-emption rights for existing shareholders, as decided by the general meeting of shareholders held in Athens on 10 May 2014 [37].
Povećanje temeljnog kapitala provedeno je otkazivanjem prava prvokupa za postojeće dioničare kao što je dogovoreno na općem sastanku dioničara održanom 10. svibnja 2014. u Ateni [37].
The HFSF approved the share capital increase on the basis of two valuations reports carried out by independent experts as per law 3864 [38].
GFFS je odobrio povećanje temeljnog kapitala na temelju dvije procjene koje su obavili neovisni stručnjaci u skladu sa zakonom 3864 [38].
THE BANK'S ACQUISITIONS OF GREEK BANKING ACTIVITIES
BANKARSKO POSLOVANJE U GRČKOJ KOJE JE PREUZELA BANKA
On 18 March 2012, the Bank of Greece noted that the three Cooperative Banks did not meet the capital adequacy requirements and concluded that they would not be able to increase their capital.
Grčka središnja banka 18. ožujka 2012. ustanovila je da tri zadružne banke ne ispunjavaju zahtjeve u pogledu adekvatnosti kapitala te je zaključila da neće moći povećati svoj kapital.
Therefore, the Bank of Greece decided to withdraw their licenses and put them into liquidation.
Grčka središnja banka stoga im je odlučila oduzeti dozvole i staviti ih u postupak likvidacije.
The Bank of Greece considered that taking resolution measures and in particular the auctioning of the deposits in the context of the resolution framework (Article 63(D) of law 3601/2007) and the financing of the relevant funding gap was crucial to maintain the increases in depositors' confidence that had occurred in the aftermath of the successful conclusions of the PSI and the Second Adjustment Programme and that, despite the recent turnaround of the market sentiment, such sentiment was fragile.
Grčka središnja banka smatrala je da je poduzimanje mjera u pogledu sanacije banaka, a osobito prodaje depozita u kontekstu okvira za sanaciju banaka (članak 63.(D) zakona 3601/2007) i financiranje relevantnog manjka financijskih sredstava ključno za održavanje razine povjerenja deponenata postignute nakon uspješnog završetka programa UPS-a i drugog programa prilagodbi te da je unatoč nastanku povoljnije klime na tržištu ta klima još uvijek nesigurna.
The Bank of Greece estimated that on 19 March 2012 the total amount of customer deposits (based on unaudited data at 30 September 2013) in those three Cooperative Banks amounted to approximately EUR 325 million.
Grčka središnja banka procijenila je da je 19. ožujka 2012. ukupni iznos depozita klijenata (na temelju nerevidiranih podataka na dan 30. rujna 2013.) u te tri zadružne banke bio otprilike 325 milijuna EUR.
The Bank of Greece proceeded with a Purchase & Assumption procedure whereby all deposits, including interbank deposits, and the claims and liabilities towards the Hellenic Deposit and Investment Guarantee Fund (‘HDIGF’) but no loans would be transferred to an acquirer.
Grčka središnja banka nastavila je postupak kupovine i pripajanja prema kojemu bi svi depoziti, uključujući međubankarske depozite, te potraživanja i obveze prema Grčkom jamstvenom fondu za depozite i ulaganja („GJFDU”), ali ne i krediti, bili preneseni na preuzimatelja.
On 20 March 2012, the Bank of Greece invited the five largest Greek credit institutions at that time to submit their offers.
Grčka središnja banka pozvala je 20. ožujka 2012. pet najvećih grčkih kreditnih institucija u tom trenutku da dostave svoje ponude.
The Bank and three other banks submitted binding offers.
Banka i tri druge banke dostavile su obvezujuće ponude.
The Bank's offer was the preferred one, in terms of consideration and time required for the conclusion of the transfer.
Ponuda Banke bila je najbolja ponuda u smislu novčanog uloga i vremena potrebnog za zaključivanje prijenosa.
The Bank offered to pay as consideration an amount equal to […] [39] % of the transferred deposits and estimated that the transfer could be completed within one working day.
Banka je ponudila uplatiti novčani ulog jednak […] [39] % vrijednosti prenesenih depozita i procijenila je da bi prijenos mogao biti izvršen u roku od jednog radnog dana.
Cooperative Bank of Lesvos-Limnos (‘Lesvos-Limnos Bank’)
Banka Cooperative Bank of Lesvos-Limnos („banka Lesvos-Limnos”)
On 23 March 2012, the Bank of Greece decided that the deposits and the claims and liabilities of Lesvos-Limnos Bank towards the HDIGF were to be transferred to the Bank [40].
Grčka središnja banka odlučila je 23. ožujka 2012. da se depoziti te potraživanja i obveze banke Lesvos-Limnos prema GJFDU-u prenesu na Banku [40].
According to the Bank of Greece [41], the fair value of the transferred liabilities amounted to EUR […] million, while no assets were transferred.
Prema navodima Grčke središnje banke [41], fer vrijednost prenesenih obveza iznosila je […] milijuna EUR, a imovina nije prenesena.
The consideration was calculated [42] at EUR […] million, that is to say, […] % of the transferred deposits.
Izračunan je novčani ulog [42] od […] milijuna EUR, odnosno, […] % prenesenih depozita.
The funding gap was covered by the HFSF pursuant to Article 63D(13) of law 3601/2007.
Manjak financijskih sredstava pokrio je GFFS u skladu s člankom 63.D stavkom 13. Zakona 3601/2007.
On 10 April 2012, the HFSF disbursed two-thirds of the total funding gap in EFSF Notes while it committed that the remaining amount would be paid upon the final determination of the funding gap.
GFFS je 10. travnja 2012. isplatio dvije trećine ukupnog manjka financijskih sredstava u obveznicama EFFS-a te se obvezao da će preostali iznos biti plaćen nakon konačnog utvrđivanja manjka financijskih sredstava.
At the time of its resolution, Lesvos-Limnos Bank employed 37 people and had 3 branches.
U trenutku svoje sanacije banka Lesvos-Limnos imala je 37 zaposlenika i 3 podružnice.
The Bank took over no branches of Lesvos-Limnos Bank and its employees were laid off.
Banka nije preuzela podružnice banke Lesvos-Limnos, a njezini su zaposlenici otpušteni.
Cooperative Bank of Achaia (‘Achaia Bank’)
Banka Cooperative Bank of Achaia („banka Achaia”)
On 23 March 2012, the Bank of Greece decided that the deposits and the claims and liabilities of Achaia Bank towards the HDIGF were to be transferred to the Bank [43].
Grčka središnja banka odlučila je 23. ožujka 2012. da se depoziti te potraživanja i obveze banke Achaia prema GJFDU-u prenesu na Banku [43].
According to the Bank of Greece [44], the fair value of the transferred liabilities amounted to EUR […] million, while no assets were transferred.
Prema navodima Grčke središnje banke [44], fer vrijednost prenesenih obveza iznosila je […] milijuna EUR, a imovina nije prenesena.
The consideration was calculated [45] at EUR […] million, that is to say, […] % of the capital of the transferred deposits.
Izračunan je novčani ulog [45] od […] milijuna EUR, odnosno, […] % kapitala prenesenih depozita.
The funding gap was covered by the HFSF pursuant to Article 63(D)(13) of law 3601/2007.
Manjak financijskih sredstava pokrio je GFFS u skladu s člankom 63D stavkom 13. Zakona 3601/2007.
At the time of its resolution, Achaia Bank employed 103 people and had 13 branches.
U trenutku svoje sanacije banka Achaia imala je 103 zaposlenika i 13 podružnica.
The Bank took over no branches of Achaia Bank and its employees were laid off.
Banka nije preuzela podružnice banke Achaia, a njezini su zaposlenici otpušteni.
Cooperative Bank of Lamia (‘Lamia Bank’)
Banka Cooperative Bank of Lamia („banka Lamia”)
On 23 March 2012, the Bank of Greece decided that the deposits and the claims and liabilities of Lamia Bank towards the HDIGF were transferred to the Bank [46].
Grčka središnja banka odlučila je 23. ožujka 2012. da se depoziti te potraživanja i obveze banke Lamia prema GJFDU-u prenesu na Banku [46].
According to the Bank of Greece, the fair value of the transferred liabilities amounted to EUR […] million, while no assets were transferred.
Prema navodima Grčke središnje banke, fer vrijednost prenesenih obveza iznosila je […] milijuna EUR, a imovina nije prenesena.
The consideration was calculated [47] at EUR […] million, that is to say, […] % of the capital of the transferred deposits.
Izračunan je novčani ulog [47] od […] milijuna EUR, odnosno, […] % kapitala prenesenih depozita.
At the time of its resolution, Lamia Bank employed 47 people and had 5 branches.
U trenutku svoje sanacije banka Lamia imala je 47 zaposlenika i 5 podružnica.
The Bank took over no branches of Lamia Bank and its employees were laid off.
Banka nije preuzela podružnice banke Lamia, a njezini su zaposlenici otpušteni.
The amounts of the funding gaps of the three Cooperative Banks are set out in Table 6.
Iznosi manjaka financijskih sredstava triju zadružnih banaka navedeni su u tablici 6.
Final funding gaps of the three Cooperative Banks
Konačni manjkovi financijskih sredstava tri zadružne banke
Sources: Decisions 3/1/EC, 3/2/EC, 3/3 of 22 June 2012 of the Resolution Measures Committee of the Bank of Greece.
Izvori: Odluke 3/1, 3/2, 3/3 od 22. lipnja 2012. Odbora Grčke središnje banke za mjere sanacije.
Final funding gap
Konačni manjak financijskih sredstava
(in EUR million)
(u milijunima EUR)
Acquisition of selected assets and liabilities of First Business Bank
Preuzimanje odabrane imovine i obveza banke First Business Bank
FB Bank was a small bank with a total balance sheet of EUR 1,4 billion at the time of its resolution, and a market share of less than 1 % in loans and in deposits.
Banka FB bila je u vrijeme svoje sanacije manja banka s ukupnom bilancom od 1,4 milijarda EUR, a imala je tržišni udio u kreditima i depozitima manji od 1 %.
FB Bank had 19 branches across Greece and employed 260 employees at 31 December 2012.
Banka FB imala je 31. prosinca 2012. 19 podružnica diljem Grčke i 260 zaposlenika.
Under the Greek bank Support Scheme FB Bank received (i) a capital injection of EUR 50 million from the Greek State in July 2009, (ii) Greek Government Securities amounting to EUR 60 million in May 2012 [48] and (iii) a State guarantee for issued bonds with a nominal value of EUR 50 million in March 2011.
U okviru programa potpore grčkim bankama banka FB primila je i. dokapitalizaciju u iznosu od 50 milijuna EUR od grčke države u srpnju 2009., ii. grčke državne vrijednosne papire u iznosu od 60 milijuna EUR u svibnju 2012. [48] i iii. državno jamstvo za izdane obveznice u nominalnom iznosu od 50 milijuna EUR u ožujku 2011.
As illustrated in Table 3, the capital needs of FB Bank were estimated at EUR 168 million in the stress test of 2012.
Kako je prikazano u tablici 3. u ispitivanju otpornosti na stres iz 2012. procijenjeno je da potrebe banke FB za kapitalom iznose 168 milijuna EUR.
Acquisition of First Business Bank
Preuzimanje banke First Business Bank
On 8 November 2012, the Bank of Greece requested FB Bank to complete the capital increase by 30 April 2013 in order to restore its Core Tier 1 ratio.
Grčka središnja banka 8. studenoga 2012. zatražila je od banke FB da do 30. travnja 2013. dovrši povećanje kapitala kako bi ponovno uspostavila stopu osnovnog kapitala.
As FB Bank failed to raise the required capital by 30 April 2013, the Bank of Greece decided to proceed with the withdrawal of the license of FB Bank and put it into liquidation.
S obzirom na to da banka FB do 30. travnja 2013. nije uspjela prikupiti potrebni kapital, Grčka središnja banka odlučila je pokrenuti postupak oduzimanja dozvole banci FB i staviti je u postupak likvidacije.
The Bank of Greece considered that taking resolution measures through a Purchase & Assumption procedure, in particular the financing of the relevant funding gap and the associated coverage of the capital needs related to the transferred assets, was crucial to maintain the depositors' confidence in the Greek banking system and thus to preserve financial stability.
Grčka središnja banka smatrala je da je poduzimanje mjera sanacije postupkom kupovine i pripajanja, osobito financiranje relevantnog manjka financijskih sredstava i povezanog pokrivanja potreba za kapitalom u pogledu prenesene imovine, iznimno važno kako bi se održalo povjerenje deponenata u grčki bankarski sustav i tako očuvala financijska stabilnost.
For those financial stability considerations, the Bank of Greece proceeded with the auction of the selected assets and liabilities of FB Bank, including deposits.
Iz razloga financijske stabilnosti Grčka središnja banka pokrenula je prodaju odabrane imovine i obveza banke FB, uključujući depozite.
However, the acquisition of FB Bank's assets could have created further capital needs for the acquirer and hence no bank would accept to acquire the selected assets and liabilities.
Međutim, preuzimanje imovine banke FB moglo je za preuzimatelja stvoriti dodatne potrebe za kapitalom pa stoga nijedna banka ne bi prihvatila preuzeti odabranu imovinu i obveze.
The Bank of Greece, in its letter to the HFSF dated 8 May 2013, indicated that it considered it to be appropriate that the HFSF should cover those capital needs as part of the resolution costs.
U svojem dopisu GFFS-u od 8. svibnja 2013. Grčka središnja banka navela je da smatra da je prikladno da GFFS pokrije te potrebe za kapitalom kao dio troškova sanacije.
In its final binding bid dated 10 May 2013, the Bank requested that the capital needs created by the acquisition of the assets transferred from FB Bank be covered by the HFSF.
U svojoj konačnoj obvezujućoj ponudi od 10. svibnja 2013. Banka je zatražila da potrebe za kapitalom koje nastanu uslijed prenošenja imovine banke FB pokrije GFFS.
The amount of those capital needs was estimated at around EUR 100 million by the Bank of Greece at the time of the resolution [49].
Grčka središnja banka procijenila je da te potrebe za kapitalom u trenutku sanacije iznose oko 100 milijuna EUR [49].
On 8 May 2013, only the Bank and another bank submitted non-binding offers.
Banka i jedna druga banka 8. svibnja 2013. predale su neobvezujuće ponude.
The bids of both banks were based on the understanding that the HFSF would cover both the funding gap and the capital needs related to the transferred assets.
Ponude obje banke temeljile su se na pretpostavci da će GFFS pokriti manjak financijskih sredstava i potrebe za kapitalom povezane s prenesenom imovinom.
On 10 May 2013, the Bank submitted its final offer.
Banka je 10. svibnja 2013. predala svoju konačnu ponudu.
The Bank of Greece decided to transfer the assets and liabilities of FB Bank to the Bank, whose offer was considered to be the preferred one.
Grčka središnja banka odlučila je imovinu i obveze banke FB prenijeti na Banku čijoj je ponudi dala prednost.
Customer loans (other than those permanently in arrears) and most cash balances, as well as intangible assets and goodwill, property rights, contracts related to the lease or purchase of property, interbank liabilities and customer deposits were transferred to the Bank.
Krediti klijentima (osim onih koji se trajno ne naplaćuju) i većina salda gotovine, kao i nematerijalna imovina te goodwill, prava vlasništva, ugovori o najmu ili kupovini nekretnina, međubankarske obveze i depoziti klijenata preneseni su na Banku.
According to the initial assessment of the Bank of Greece at the time of the resolution [50], the value of the liabilities transferred from FB Bank to the Bank was estimated at EUR 1402 million while the value of the transferred assets was estimated at EUR 878 million, the difference being the funding gap of EUR 524 million.
Prema prvotnim procjenama Grčke središnje banke u trenutku sanacije [50], vrijednost obveza prenesenih s banke FB na Banku procijenjena je na 1402 milijuna EUR dok je vrijednost prenesene imovine procijenjena na 878 milijuna EUR, a razlika od 524 milijuna EUR bila je manjak financijskih sredstava.
The funding gap was covered pursuant to Article 63D(13) of law 3601/2007 by the HFSF, which on 28 June 2013 disbursed the two-thirds of the estimated funding gap, meaning EUR 349,6 million.
U skladu s člankom 63D stavkom 13. Zakona 3601/2007 manjak financijskih sredstava pokrio je GFFS koji je 28. lipnja 2013. isplatio dvije trećine procijenjenog manjka financijskih sredstava, odnosno 349,6 milijuna EUR. Nakon što je Grčka središnja banka 7. studenoga 2013. dovršila izračun manjka financijskih sredstava koji je iznosio [51] 457 milijuna EUR, GFFS je 13. studenoga 2013.
After the finalisation of the calculation of the funding gap by the Bank of Greece on 7 November 2013 [51] at EUR 457 million, on 13 November 2013 [52] the HFSF paid to the Bank the balance of EUR 107,4 million.
Banci isplatio razliku od 107,4 milijuna EUR.
Acquisition of selected assets and liabilities of Probank
Preuzimanje odabrane imovine i obveza banke Probank
Probank had a network of 112 branches across Greece and employed 1087 people [53] at 31 March 2013.
Banka Probank imala je 31. ožujka 2013. mrežu od 112 podružnica i 1087 [53] zaposlenika.
The balance sheet of Probank was around EUR 3,2 billion at 30 June 2013 [54].
Bilanca banke Probank 30. lipnja 2013. iznosila je 3,2 milijarde EUR [54].
Probank had a market share of 1,1 % in loans and a market share of 1,7 % in deposits at 31 March 2013.
Banka Probank imala je 31. ožujka 2013. tržišni udio od 1,1 % u kreditima i tržišni udio od 1,7 % u depozitima.
As illustrated in Table 3, the capital needs of Probank were estimated at EUR 282 million in the stress test of 2012.
Kako je prikazano u tablici 3. u ispitivanju otpornosti na stres iz 2012. procijenjeno je da potrebe banke Probank za kapitalom iznose 282 milijuna EUR.
Acquisition of Probank
Preuzimanje banke Probank
On 26 October 2012, the Bank of Greece requested Probank to increase its capital by EUR 282 million.
Grčka središnja banka 26. listopada 2012. zatražila je od banke Probank da poveća svoj kapital za 282 milijuna EUR.
As Probank failed to increase its capital, in July 2013 the Bank of Greece decided to proceed with the withdrawal of its license and put it into liquidation [55].
S obzirom na to da banka Probank nije uspjela povećati kapital, u srpnju 2013. Grčka središnja banka odlučila je pokrenuti postupak oduzimanja dozvole banci Probank i staviti je u postupak likvidacije [55].
More precisely, the own funds of Probank were negative and were estimated at around EUR – 16 million based on data at 31 March 2013 on a consolidated basis.
Točnije, vlastita sredstva banke Probank bila su negativna i procijenjena su na oko – 16 milijuna EUR na temelju podataka od 31. ožujka 2013. na konsolidiranoj osnovi.
Therefore, Probank did not meet its minimum capital requirements and its own funds were lower than the minimum share capital for any bank, as set at Article 5(4)(a) of law 3601/2007.
Prema tome, banka Probank nije ispunjavala minimalne kapitalne zahtjeve, a njezina vlastita sredstva bila su niža od najnižeg temeljnog kapitala za bilo koju banku, kako je propisano u članku 5. stavku 4. točki (a) Zakona 3601/2007.
The Bank of Greece considered that resolution measures were crucial to maintain depositors' confidence in the Greek banking system and thus to preserve financial stability.
Grčka središnja banka smatrala je da su mjere za sanaciju iznimno važne kako bi se održalo povjerenje deponenata u grčki bankarski sustav i tako očuvala financijska stabilnost.
For those financial stability considerations, the Bank of Greece proceeded with the auction of selected assets and liabilities of Probank, including deposits.
Iz razloga financijske stabilnosti Grčka središnja banka pokrenula je prodaju odabrane imovine i obveza banke Probank, uključujući depozite.
However, the acquisition of Probank's assets could have created further capital needs for the acquirer and hence no bank would accept to acquire the selected assets and liabilities.
Međutim, preuzimanje imovine banke Probank moglo je za preuzimatelja stvoriti dodatne potrebe za kapitalom pa stoga nijedna banka ne bi prihvatila preuzeti odabranu imovinu i obveze.
Therefore, in its final binding bid dated 25 July 2013, the Bank requested that the capital needs created by the acquisition of the assets transferred from Probank be covered by the HFSF.
Stoga je u svojoj konačnoj obvezujućoj ponudi od 25. srpnja 2013. Banka zatražila da potrebe za kapitalom koje nastanu uslijed preuzimanja imovine prenesene s banke Probank pokrije GFFS.
The requested commitment to cover those capital needs was taken into account by the HFSF when assessing the bids received.
Prilikom ocjenjivanja primljenih ponuda GFFS je uzeo u obzir zatraženo preuzimanje obveze pokrivanja potreba za kapitalom.
The amount of those capital needs was estimated at EUR [180 to 280] million [56].
Procijenjeno je da te potrebe za kapitalom iznose [180 do 280] milijuna EUR [56].
On 24 July 2013 another large Greek bank submitted a draft offer and on 25 July 2013 the Bank submitted its offer.
Dana 24. srpnja 2013. još jedna velika grčka banka podnijela je nacrt ponude, a 25. srpnja 2013. Banka je podnijela svoju ponudu.
The bids of both banks were based on the understanding that the HFSF would cover both the funding gap and the capital needs created by the transferred assets.
Ponude obje banke temeljile su se na pretpostavci da će GFFS pokriti manjak financijskih sredstava i potrebe za kapitalom povezane s prenesenom imovinom.
The Bank of Greece decided to transfer the assets and liabilities of Probank to the Bank, whose offer was considered to be the preferred one.
Grčka središnja banka odlučila je imovinu i obveze banke Probank prenijeti na Banku čijoj je ponudi dana prednost.
Customer loans (other than the loans permanently in arrears) and most cash balances, as well as intangible assets and goodwill, property rights, contracts related to the lease or purchase of property, interbank liabilities and customer deposits were transferred to the Bank.
Krediti klijentima (osim onih koji se trajno ne naplaćuju) i većina salda gotovine, kao i nematerijalna imovina te goodwill, prava vlasništva, ugovori o najmu ili kupovini nekretnina, međubankarske obveze i depoziti klijenata preneseni su na Banku.