natgillin/translations-raw huggingface dataset:
Liquidation of the large customer/foreign business area
Likvidacija poslovnega področja velike stranke/tujina
The bank intends to withdraw entirely from the large customer/foreign business area, which also includes consultancy business in the mergers and acquisitions field and structured finance/project financing and is not viewed as forming part of the bank’s core business.
Banka naèrtuje, da se bo popolnoma umaknila s poslovnega podroèja velike stranke/tujina, ki zajema tudi svetovanja na podroèju združitev in pripojitev ter strukturirane finance/financiranje projektov in ne sodi k osnovnim dejavnostim banke.
It accordingly stopped acquiring new business in principle in 2002.
Sklepanje novih poslov je tako naèeloma ustavila že leta 2002.
In view of long-term commitments, especially in the structured finance field, an immediate exit is not possible, however, the only option being an extensive reduction in risk positions of about [...]* % by the end of the restructuring period in 2006.
Vendar pa zaradi dolgoroènih obveznosti, še zlasti na podroèju strukturiranega financiranja, takojšen izstop ni izvedljiv, mogoèe je le obsežno skrèenje za približno [...]* % tveganih postavk do konca obdobja prestrukturiranja 2006.
The remainder is to be terminated as soon as possible, apart from a limited number of export financing operations covered by export credit agencies and medium‐ to long-term financing of goods transactions in selected target countries in central and eastern Europe on the basis of proven country expertise; these are being integrated into the capital market business and are to be retained.
Preostanek bo ustavljen takoj, ko bo možno, z izjemo omejenega obsega mednarodnega financiranja izvoza, ki ga izvajajo agencije za izvozne kredite, in srednje do dolgoroènega financiranja blagovnih transakcij v izbrane ciljne države Srednje in Vzhodne Evrope, ki se bodo ohranili zaradi utemeljenega strokovnega znanja in bodo vkljuèeni v poslovanje na trgu kapitala.
The reductions to do are largely as planned.
Doslej dosežena krèenja potekajo po naèrtu.
In the Commission’s and Mazars’ opinion, they are aimed at discontinuing this business area as a whole as soon as possible in an orderly manner and, thanks to the massive reduction in risk positions, at freeing up significant amounts of capital which will help to ensure future capital market capability.
Po stališèu Komisije in revizijske družbe Mazars so ustrezna za kar se da hitro celotno ukinitev tega podroèja delovanja na urejen naèin, in tudi za znatno sprostitev lastnega kapitala z obsežnim zmanjšanjem tveganih postavk, s katerim bodo zagotovljena prihodnja tržna sposobnost.
The abandonment of this relatively high-risk business area with high individual financing volumes, which does not form part of the core business, will also considerably ease the burden on management, which will be better able to perform its priority tasks in the key areas.
Opustitev tega dokaj tveganega podroèja, ki ne sodi v osnovno dejavnost, z velikim obsegom posamiènega financiranja, bo bistveno razbremenila vodstvo, da bo lahko bolje opravljalo svoje prednostne naloge na podroèjih, na katera se osredotoèajo.
The original plan of reductions was amended, however, in June 2003 to take account of the unfavourable market conditions in 2002.
Vendar je bil junija leta 2003 prvotni naèrt krèenja prilagojen tako, da je upošteval neugodne tržne pogoje v letu 2002.
This might cause some, but on the whole not significant delay in the reduction of risk positions.
Posledièno bi lahko prišlo do doloèenega, a nepomembnega zavlaèevanja pri krèenju tveganih postavk.
Scaling down and transfer of the real estate services business
Krčenje in prenos dejavnosti nepremičninskih storitev
As an addition to its notification, Germany offered in its response to the Commission’s decision to initiate the procedure not only a scaling down of the real estate services business but also its complete spin-off and — apart from a few companies to be defined and still sellable on the market — transfer to the Land of Berlin by the end of 2005 as a further compensatory measure.
Nemčija je v svojem odgovoru na uvedbo postopka Komisije kot nadaljnji kompenzacijski ukrep in kot dopolnilo k notifikaciji ponudila krčenje dejavnosti nepremičninskih storitev in njegovo izločitev, razen nekaterih redkih družb, ki jih je mogoče odsvojiti na trgu, pa še prenos te dejavnosti na deželo Berlin do konca leta 2005.
This measure accordingly became part of the restructuring plan.
Ukrep je postal del osnutka prestrukturiranja.
It covers all the real estate services companies protected by the April 2002 risk shield, and in particular IBAG, Bavaria, IBV, IBG and LPFV.
Obsega vse družbe z dejavnostjo nepremičninskih storitev, ki sodijo v omejitev tveganj iz aprila leta 2002, zlasti IBAG, Bavaria, IBV, IBG in LPFV.
The April 2002 risk shield covers all risks from the bank’s old business in the real estate services field transacted before the cut-off dates mentioned above.
Omejitev tveganj iz aprila leta 2002 krije vsa tveganja iz starih poslov banke na področju nepremičninskih storitev, zaključena pred zgoraj omenjenimi datumi.
This means that risks to the bank in the real estate services business area now arise only from new business transacted after those dates.
To je povzročilo, da so se tveganja za banko na poslovnem področju nepremičninskih storitev pojavljala samo še iz novih poslov, sklenjenih po tem datumu.
Since the market for real estate services is still to be regarded as problematic and is characterised by a high degree of forecasting uncertainty, the Commission, supported by Mazars, considers the continuing significant reduction in new business in the real estate services field to be an important contribution to the restoration of long-term viability and concentration on the core business of a regional bank.
Ker je treba na trg nepremičninskih storitev še naprej gledati kot na težavnega in ker so napovedi izjemno negotove, meni Komisija, kar je potrdila tudi njena svetovalka, revizijska družba Mazars, da je stalno znatno krčenje novega posla na področju nepremičninskih storitev pomemben prispevek k ponovni vzpostavitvi dolgoročne življenjske sposobnosti regionalne banke in njenega osredotočanja na osnovno dejavnost take banke.
The transfer of old business protected by the risk shield to the Land of Berlin at the market price likewise enables the bank to free up resources previously tied up outside the core business, although the transfer of old business already covered should not as such have any significant impact on the bank’s risk situation.
Prenos starega posla, ki sodi v omejitev tveganj, na deželo Berlin po tržni ceni banki omogoča sprostitev virov, ki so bili doslej vezani zunaj njene osnovne dejavnosti, čeprav prenos že pokritih starih poslov sam po sebi ne bi smel pomembno vplivati na bančni položaj glede tveganja.
The Commission, in line with Mazars’ findings, considers the complete abandonment of the real estate services business area to be to be a clear, economically meaningful step which should contribute to the long-term stabilisation of the bank’s results.
V skladu z mnenjem revizijske družbe Mazars je Komisija mnenja, da je popolna opustitev področja dejavnosti nepremičninskih storitev jasen in gospodarsko smiseln rez, ki bo prispeval k dolgoročni stabilizaciji bančnih rezultatov.
This measure should therefore be viewed favourably by the capital market and should ease the planned privatisation of the bank.
Ukrep je tako mogoče pozitivno oceniti tudi iz vidika trg kapitala, in lahko bi olajšal načrtovano privatizacijo banke.
The planned staff reductions during the restructuring period from 2001 to 2006 amount for the whole group to some 8500, i.e. a reduction of almost 60 % from over 15000 employees to just over 6600.
Načrtovano skrčenje zaposlenih v obdobju prestrukturiranja od leta 2001 do leta 2006 predstavlja za celotni koncern približno 8500 zaposlenih, to pomeni zmanjšanje za skoraj 60 % iz več kot 15000, na nekaj več kot 6600.
By 30 September 2003, the workforce comprised some 10000 employees in total, i.e. a reduction of almost 5200 or about 35 %.
Do 30. septembra 2003 je bilo doseženo zmanjšanje zaposlenih na okoli 10000, kar pomeni za približno 5200 ali okoli 35 %.
These figures are largely as set out in the plan.
Številke so v skladu z načrtom.
Analysis of the financial measures
Analiza finančnih ukrepov
The financial measures are, in the opinion of the Commission, supported by its advisers Mazars, necessary and appropriate as a means of restoring BGB’s financial stability from the point of view of liquidity and capitalisation and of ensuring its refinancing on the capital markets as well as the financing of its restructuring.
Finančni ukrepi so po stališču Komisije, ki se ujema s stališčem njene svetovalke, revizijske družbe Mazars, potrebni in primerni za ponovno vzpostavitev finančne stabilnosti BGB iz vidika ponovne vzpostavitve likvidnosti in kapitalizacije, in za zagotovitev refinanciranja BGB na trgu kapitala, kot tudi za financiranje prestrukturiranja BGB.
They consist of measures relating both to own capital and to borrowed capital.
Finančne ukrepe sestavljajo ukrepi, ki zadevajo lastniški in tuji kapital.
The details are as follows:
V podrobnostih velja sledeče:
The Commission takes the view that the sale of assets and participations will provide the bank with liquidity and reduce risk positions outside the core area.
Komisija meni, da bodo prodaja osnovnih sredstev in udeležb banko oskrbele z likvidnostjo in skrčenjem tveganih postavk zunaj temeljnega področja.
It is not clear, however, that accounting profits of any significance overall can be achieved in this way.
Vendar ni razvidno, da bi bilo ob tem mogoče doseči znatne knjižne dobičke.
The refinancing of the bank rests on three main pillars: savings deposits (approximately one third), bank deposits (approximately one third) and securitised liabilities (approximately one quarter).
Refinanciranje banke stoji na 3 glavnih stebrih: hranilne vloge (približno tretjina), bančne vloge (približno tretjina) in zapisane obveznosti (približno četrtina).
To prepare for the abolition of state guarantees, the bank aims to switch from its at present relatively large stock of short-term liabilities to medium‐ and long‐term liabilities and to re-enter the capital market in the area of unsecured liabilities.
V svojih pripravah na odpad državne garancije banka cilja na premestitev svojega doslej dokaj visokega portfelja kratkoročnih obveznosti na srednjeročne in dolgoročne obveznosti, ter na ponovni vstop na trg kapitala na področju nezavarovanih obveznosti.
To this end, it has drawn up objectives for the issuance of secured and unsecured liabilities and is seeking thereby to rebuild the trust of the capital market and to expand the investor base.
V ta namen je banka razvila cilje za izdajo zavarovanih in nezavarovanih obveznosti, s čimer si prizadeva ponovno vzpostaviti in razširiti bazo vlagateljev.
It has held talks with ratings agencies about the realistically attainable rating in the event of successful implementation of the restructuring plan on the basis of the base-case scenario (A- or A3).
Banka se je pogovarjala z rating agencijami o ratingu, ki ga lahko realno dosežejo pri uspešni izvedbi koncepta prestrukturiranja na osnovi osnovnega scenarija („A“ oz. „A3“).
On the whole, an average increase in refinancing costs of [...]* basis points can be reckoned on as a result of the abolition of state guarantees in mid‐2005.
Skupno izhodišče je povišanje stroškov refinanciranja za povprečno [...]* osnovnih točk, ki jih bo povzročil odpad državne garancije v sredini leta 2005.
The Commission considers, in line with Mazars’ findings, that the bank’s refinancing strategy, and in particular the base scenario drawn up and the inference of correspondingly higher refinancing costs, is fundamentally plausible.
Komisija meni, da je strategija refinanciranja banke in zlasti osnovni scenarij, razvit za strategijo, ter odvajanje ustrezno povišanih stroškov financiranja praviloma za verodostojno, kar potrjuje tudi revizijska družba Mazars.
However, a question mark hangs over the bank’s future refinancing because of potential reluctance on the part of market participants, which might materialise especially if the bank’s results fail to come up to expectations.
Vendar obstaja za prihodnje refinanciranje banke negotovost zaradi morebitne zadržanosti udeležencev trga, ki lahko nastopi zlasti, če bodo izidi banke zaostajali za pričakovanji.
In such an event, still higher refinancing costs would have to be reckoned with.
V takem primeru bi bilo treba računati z naraščajočimi stroški refinanciranja.
What is more, how far possible saturation effects might be observed in the market in mid-2005 if all public banks in Germany lose the state guarantees is not yet fully foreseeable.
Zaenkrat tudi ni predvidljivo, v kolikšni meri bi lahko sredi leta 2005 prišlo do možnih učinkov zasičenosti trga, če bi vse javne banke v Nemčiji izgubile državno garancijo.
The placing of certain securities issues might then be at least hampered.
Plasiranje nekaterih papirjev bi bilo lahko oteženo.
For this reason, the Commission sees in the further reduction of risk positions an essential precondition for the successful implementation of the restructuring plan.
Zaradi teh razlogov vidi Komisija v nadaljnjem zmanjšanju tveganih postavk bistveno predpostavko za uspešno izvedbo načrta prestrukturiranja.
If the problems described were to occur in future, the bank could effectively combat them by stepping up the reduction effort and thus favourably influence the confidence placed in it by the capital market.
Če bi se opisane težave v prihodnje pokazale, bi lahko banka z več napora učinkovito ukrepala pri njihovem odpravljanju, kar bi pozitivno vplivalo na zaupanje na trgu kapitala.
Another essential precondition for securing the confidence of the capital market is the attainment of a satisfactory core‐capital ratio that can act as a buffer against any losses incurred.
Bistvena predpostavka za pridobitev zaupanja na trgih kapitala je tudi doseganje zadostne stopnje temeljnega kapitala, ki bi delovala kot blažilnik za morebitno nastale izgube.
The core‐capital ratio depends firstly on the extent of the risk positions and secondly on that of the core capital itself.
Stopnja temeljnega kapitala je po eni strani odvisna od obsega tveganih postavk, po drugi pa od obsega temeljnega kapitala.
The bank is aiming at a core‐capital ratio at the end of the restructuring period of more than 7 %.
Banka si prizadeva za več kot 7 % stopnjo temeljnega kapitala ob koncu obdobja prestrukturiranja.
A capital contribution by shareholders, in addition to the August 2001 capital increase, in order to further improve the bank’s capitalisation is, however, not likely before privatisation takes place at the end of 2007.
Vendar pa ni pričakovati, da bi solastniki za dodatno izboljšanje kapitalizacije prispevali zneske, ki bi presegali povišanje kapitala iz avgusta leta 2001, vsaj ne do privatizacije ob koncu leta 2007.
Accordingly, if it is to increase its core‐capital ratio, the bank must fall back in particular on a reduction in risk positions or the sale of assets.
Ob upoštevanju tega si mora banka za povišanje stopnje temeljnega kapitala pomagati zlasti z zmanjšanjem tveganih postavk oz. prodajo premoženja.
The Commission is aware that the statutory minimum core‐capital ratio of 4 % is insufficient to give a bank the necessary breathing space in day-to-day business.
Komisija se zaveda, da zakonsko predpisana najnižja stopnja temeljnega kapitala v višini 4 % ne zadošča za zagotovitev potrebnega manevrskega prostora banke za vsakodnevno poslovanje.
In its rescue aid decision of 25 July 2001, the Commission therefore recognised a core‐capital ratio of 5 % as being necessary in order to enable a bank to continue to exist.
Pri svoji odločitvi o pomoči za reševanje z dne 25. julija 2001 je Komisija zato priznala, da je za nadaljnji obstoj banke potrebna 5 % stopnja temeljnega kapitala.
This was based essentially on a letter from BAKred, as it then was.
Odločilno je na tako odločitev Komisije vplivalo pismo takratne BAKred.
As confirmed by Mazars, the Commission is also aware that in the financial markets a core‐capital ratio of 6 % is generally mentioned as being the threshold below which questions arise as to the strength of the institution concerned and the confidence of the financial markets suffers.
Komisija se zaveda tudi, da se, kot je potrdila revizijska družba Mazars, na finančnih trgih omenja kot pragovna vrednost 6 % stopnja temeljnega kapitala, ki postane pod to mejo vprašljiva in povzroči nezaupanje na finančnih trgih.
According to Mazars, ratings agencies tend to view core‐capital ratios as a reflection of a bank’s financial strength, which is why credit institutions generally strive to exceed the required capital underpinning in order to ensure sound ratings, this being a precondition for access to the international capital markets on reasonable terms.
Kot navaja revizijska družba Mazars je težnja rating agencij, da obravnavajo stopnjo temeljnega kapitala kot odraz finančne moči banke, tako da kreditne institucije na splošno prekoračujejo zakonsko predpisan kapital, saj si s tem zagotovijo ustrezni rating, ki je pogoj za dostop do mednarodnih trgov kapitala pod razumnimi pogoji.
A capital ratio higher than 6 % may also be wise in the light of the reform of international agreements within the Basel II framework and the abolition of state guarantees in order to fulfil the market’s expectations of greater strength especially on the part of Land banks and thereby to achieve a better rating.
Stopnja temeljnega kapitala, višja od 6 %, je verjetno smiselna tudi glede na reformo mednarodnih dogovorov na osnovi Basel II in odpada državnih jamstev za izpolnitev pričakovanj trga o večji zanesljivosti zlasti deželnih bank in posledično boljši rating.
The bank is aiming at an A rating and considers a core‐capital ratio of at least 7 % to be necessary for this.
Banka si prizadeva za rating A, zaradi česar meni, da je za to potrebna 7 % stopnja temeljnega kapitala.
On the basis of comparable market data (with the average core‐capital ratio for the sector in Germany of 6 % being low by international comparisons and with 8 % or even higher being the average value for reputable credit institutions at European level), Mazars considers it indispensable for the bank to achieve in the medium term at least a core‐capital ratio of some 6 to 7 %.
Na osnovi opazovanih primerjalnih podatkov (po katerih je povprečna stopnja temeljnega kapitala sektorja v Nemčiji s 6 % v mednarodni primerjavi dokaj nizka, saj je povprečna vrednost priznanih kreditnih institucij na evropski ravni 8 % in več), svetovalci Komisije, revizijska družba Mazars meni, da je srednjeročna približno 6 % do 7 % stopnja temeljnega kapitala nujno potrebna.
The Commission, in line with Mazars’ findings, likewise regards a medium‐term increase in the core‐capital ratio to over 6 % as being desirable.
Prav tako kot revizijska družba Mazars je tudi Komisija mnenja, da je srednjeročno povišanje stopnje temeljnega kapitala nad 6 % pot do cilja.
However, an increase to over 6 % is, in the Commission’s opinion, solely a commercial objective the responsibility for which must be assumed by the bank and thus cannot be financed by state aid.
Vendar je, po razumevanju Komisije, povod za povečanje nad 6 % izključno poslovni interes in področje odgovornosti banke, zato ga ni mogoče financirati iz državne pomoči.
The bank’s competitors are faced with the same market situation but have to increase their core‐capital ratios on their own without any state support.
Tekmice banke se namreč srečujejo z enakim položajem na trgu, vendar morajo stopnjo temeljnega kapitala doseči iz lastne moči in brez državne podpore.
Authorisation of an increase in the core‐capital ratio using state resources to over 6 % would therefore unjustifiably place the bank in a better position than its competitors, without this being absolutely essential to the bank’s viability at the time of the decision.
Odobritev povečanja stopnje temeljnega kapitala iz državnih sredstev na več kot 6 % bi banko v primerjavi z njenimi tekmicami postavila v boljši položaj na nepravičen način, ne da bi bilo to v trenutku odločitve pomembno za sposobnost preživetja banke.
The aid would accordingly no longer be kept to the minimum required.
Pomoč tako več ne bi bila omejena na potrebni minimum.
For this reason, the Commission has insisted that, under the agreement between the Land of Berlin and the bank of 26 December 2002 on the treatment of any claims to repayment brought by the Land arising out of a Commission decision in aid case C 48/2002, the amount of any repayment claim will be left in the bank in the form of a deposit only as far as is necessary to attain a core‐capital ratio of 6 % (or a total capital ratio of 9,7 %, as already acknowledged in the decision on the rescue aid) on the basis of the 2002 annual accounts.
Zato je Komisija vztrajala, da se lahko po pogodbi med deželo Berlin in banko z dne 26. decembra 2002 o obravnavanju možnih vračilnih zahtevkov dežele iz odločitve Komisije o postopku pomoči C 48/2002, banki dovoli možnost terjati povračilo v obliki vloge le v taki višini, ki je potrebna za doseganje stopnje temeljnega kapitala v višini 6,0 % (oz. stopnje skupnega kapitala v višini 9,7 %, ki je bila priznana že v odločitvi o pomoči za reševanje), na osnovi letnega poslovnega poročila za leto 2002.
However, this agreement can be approved by the Commission only in so far as the amount calculated under the agreement also does not lead to any overstepping of the core‐capital ratio of 6 % for the BGB group as at 1 January 2004 and hence on basis of the figures current at the time of the Commission decision (thus taking into account the hiving off of IBB promised by Germany and described in paragraph 279).
Komisija lahko pogodbo dovoli le v toliko, v kolikor ugotovljen znesek tudi s 1. januarjem 2004, in s tem na osnovi aktualnih številk v času odločitve Komisije, ne prispeva k prekoračitvi stopnje temeljnega kapitala koncerna BGB v višini 6,0 % (ob upoštevanju izločitve IBB, s katero se je Nemčija strinjala in je opisana v obrobni številki 279).
On the basis of the same considerations, the Commission has ensured that Germany commits itself to leaving the IBB reserve in the context of the divestment of government assistance business in 2005 in the bank only as far as is necessary to maintain the core‐capital ratio at a level of 6 % on the reference date of 1 January 2004.
Komisija je zaradi enakih preudarkov skušala vplivati na obveznost, ki si jo je Nemčija zadala sama, da pustijo IBB v zvezi s prenosom razvojnih poslov v letu 2005 le toliko rezerv, kot je potrebno za ohranitev stopnje temeljnega kapitala v višini 6 % s 1. januarjem 2004.
This measure is to be viewed as part of the compensation to be provided by the bank in order to limit in the interests of competitors the distortions of competition caused by the aid.
Na ukrep je treba gledati kot na del kompenzacije, ki jo mora zagotoviti banka za omejitev izkrivljanja konkurence, nastale zaradi pomoči, zaradi interesov tekmic.
The above refunding of the IBB reserve ensures that, in the context of the divestment of government assistance business, the bank does not have a core‐capital ratio in excess of the minimum essential to long-term viability which it might be able to use for expansive business strategies damaging to competitors.
S ponovno vzpostavitvijo rezerv IBB v navedenem obsegu se zagotovi, da banka v zvezi s prenosom razvojne dejavnosti ne bo dosegla stopnje temeljnega kapitala, ki presega minimum, potreben za dolgoročno življenjsko sposobnost, saj bi lahko uvedla ekspanzivne poslovne strategije v škodo tekmic.