natgillin/translations-raw huggingface dataset:
The Commission was therefore unable to assess whether the proposed compensatory measures were sufficient in view of the amount of aid.
Komisija zaradi tega ni mogla presoditi, ali bi ponujeni kompenzacijski ukrepi ob upoštevanju vsote pomoči zadoščali.
It also had doubts that, even in the best‐case scenario with aid of some EUR 3 billion in addition to the capital injection, the compensatory measures would suffice in the light of the above rough guide.
Med ostalim je Komisija dvomila tudi, da bi kompenzacijski ukrepi tudi v najboljšem primeru z uresničeno pomočjo v višini okoli 3 milijarde EUR dodatno k prilivu kapitala zadoščali v skladu z zgoraj opisanimi približnimi opornimi točkami.
Moreover, experience with restructuring cases had shown that best‐case scenarios rarely came about.
Povrh tega so izkušnje s primeri prestrukturiranja pokazale, da se je najboljši scenarij le redko uresničil.
The Commission stated that BGB’s extremely strong market position in retail banking at local and regional level would have to be taken into account when finally assessing the appropriateness of the compensatory measures.
Komisija je napovedala, da bo pri zaključni presoji o primernosti kompenzacijskih ukrepov upoštevala izjemno močan tržni položaj BGB pri poslovanju s prebivalstvom na lokalnem in regionalnem nivoju.
Given the absence of sufficient information, however, the Commission was not able to estimate the effects of the reduction measures on the individual markets or segments.
Zaradi pomanjkanja izčrpnih informacij Komisija ni mogla oceniti učinkov redukcijskih ukrepov na posamezne trge ali panoge.
However, the planned reduction in retail and corporate banking by way of the divestment of Weberbank and Allbank seemed relatively modest and would possibly be insufficient to mitigate the distortive effect of the aid.
Skrčenje poslovanja z občani in podjetji, za katera si je banka prizadevala, z načrtovano odsvojitvijo bank Weberbank in Allbank, se je zdela sorazmerno majhna, zato morebiti ne bi v zadostni meri omilila učinka izkrivljanja konkurence.
In view of the fact that BGB also appeared to be a key player on the real estate market, the Commission further wondered whether the reductions planned in this connection would be sufficient.
Spričo dejstva, da kaže, da BGB ni nepomembna udeleženka na trgu poslovanja z nepremičninami, se je Komisija nadaljnje vprašala, ali bodo tozadevno načrtovani redukcijski ukrepi zadoščali.
To summarise, the Commission lacked important information needed for a proper and sufficiently thorough assessment of the effects of the proposed compensatory measures.
Strnjeno povedano so Komisiji manjkale pomembne informacije za ustrezno in dovolj natančno presojo učinkov predlaganih kompenzacijskih ukrepov.
On the basis of the available facts, therefore, it had serious doubts as to whether the planned reduction measures would suffice to mitigate the distortive effects of the very large amount of aid, the exact amount of which or the ceiling for which could not even be established.
Tako je na osnovi razpoložljivih dejstev resnično dvomila, da bodo načrtovani redukcijski ukrepi zadoščali za omilitev učinkov izkrivljanja konkurence, obsega pomoči, ki je bil zelo visok, in katerega natančnega zneska ali najvišje vrednosti ni bilo mogoče niti ugotoviti.
Accordingly, BGB’s strong local and regional market position in the retail sector in particular also had to be taken into account.
V tem sobesedilu je bilo potrebno upoštevati močan, zlasti lokalni in regionalni tržni položaj BGB, še zlasti na področju poslovanja s prebivalstvom.
Aid limited to the minimum
Pomoč, omejena na minimum
Under paragraphs 40 and 41 of the guidelines, aid must be limited to the strict minimum needed to enable restructuring to be undertaken and to avoid providing the company with surplus cash which could be used for aggressive, market‐distorting activities or even for expanding.
V skladu s številkama smernice 40 in 41 mora biti pomoč omejena na najnižjo potrebno mero za prestrukturiranje, da se v podjetje ne dovede prekomerna likvidnost, ki bi jo lahko v podjetju uporabili za agresivno vedenje, ki bi izkrivljalo tržne razmere, ali celo za širitev.
The guidelines also state that aid beneficiaries will be expected to make a significant contribution to the restructuring plan from their own resources, including through the sale of assets that are not essential to the firm's survival.
Smernice prav tako določajo, da se od prejemnikov pomoči pričakuje, da k prestrukturiranju pomembno prispevajo z lastnimi sredstvi, čeprav bi to pomenilo prodajo premoženja, ki ni nujno potrebno za nadaljnji obstoj podjetja.
On the basis of the available information, the Commission was not in a position to assess accurately whether the aid, the amount of which was not even clear, represented the strict minimum necessary and whether, for example, the risks in the course of the restructuring might have been overstated or whether measures had been or would be taken to rule out multiple risk coverage.
Na osnovi razpoložljivih informacij Komisija ni mogla natančno oceniti, ali je pomoč, katere višina ni bila jasna, potreben najnižji prispevek, in ali so bila, na primer, tveganja v postopku prestrukturiranja morebiti precenjena, in ali so bili ali bodo uvedeni kontrolni ukrepi za dejansko izločitev večkratnega kritja tveganja.
The Commission questioned whether the provisional authorisation as rescue aid of a core‐capital ratio of 5 % and an own‐funds ratio of 9,7 % and, as targets from 2003 onwards, a core‐capital ratio of some 7,5 % and an own‐funds ratio of some 12 % were really necessary for the firm’s survival, including a solid rating by the rating agencies.
Komisija se je vprašala, ali je doseganje stopnje temeljnega kapitala v višini 5 % in stopnje lastnih sredstev v višini 9,7 %, začasno dovoljeno kot pomoč pri reševanju, ter stopnja temeljnega kapitala v višini 7,5 % in stopnja lastnih sredstev v višini približno 12 %, za katero si prizadevajo po letu 2003, resnično potrebna za nadaljevanje obstoja podjetja vključno s solidno ocenjeno boniteto rating agencije.
In this context, it also had doubts about whether BGB's own contribution through the sale of assets or subsidiaries not essential for the firm's long‐term viability met the ‘significant contribution’ requirement in view of the large volume of aid granted even in the best‐case scenario.
V tem smislu je Komisija poleg tega dvomila, da lastni prispevek BGB s prodajo premoženja ali hčerinskih družb, ki niso nujno potrebni za dolgoročno sposobnost preživetja podjetja, tudi v primeru najboljšega scenarija visokega obsega pomoči izpolnjuje kriterij „pomembnega prispevka“.
Given the strong position of BGB, together with its subsidiaries and merged entities, on several markets and segments, it was questionable whether more and larger subsidiaries or assets could not be divested, not only from the viewpoint of compensatory measures but also as a serious own contribution in addition to taxpayers' money.
Na osnovi močnega položaja BGB in njenih hčerinskih družb, ter z njo ali z njimi združenih podjetji na več trgih in več segmentih se je pojavilo vprašanje, ali ne bi bilo mogoče odsvojiti več oz. večjih hčerinskih družb/postavk premoženja, ne samo pod vidikom izravnalnih ukrepov, temveč tudi kot pomemben lastni prispevek, ki dopolnjuje obseg zneska davkoplačevalcev.
COMMENTS FROM GERMANY
STALIŠČE NEMČIJE
Germany submitted its comments regarding the initiation of the state aid procedure on the basis of the restructuring plan at the time, which essentially still applied in the summer of 2003 and which formed the basis for the advisers' report for the Commission. At the Commission’s request, it subsequently provided further information in addition to the original restructuring plan, in particular regarding the following points of key importance for the Commission’s decision:
Nemčija je na osnovi takrat predloženega načrta prestrukturiranja, ki je v svojih osnovnih orisih veljal še poleti 2003 in je bila osnova za izvedensko mnenje svetovalcem Komisije, ob uvedbi postopka izrazila svoje mnenje in na povpraševanje Komisije predložila nadaljnje informacije, ki so presegale prvotni načrt prestrukturiranja še zlasti v naslednjih točkah, ki so bile pri odločanju Komisije odločilnega pomena.
Restoration of the firm’s long‐term viability
Ponovna vzpostavitev dolgoročne rentabilnosti podjetja
Investment banking would in future no longer be a strategic focus or target product of the capital market business, which would concentrate on fields with a high yield potential, such as customer business with share, interest and credit products and, to a lesser extent, own‐account business, and would diminish still further in its importance.
Investicijsko bančništvo v prihodnosti več ne bo strateška usmeritev, niti ciljni produkt poslovanja na trgu kapitala. Poslovanje na trgu kapitala je usmerjeno na področja z visokim potencialom donosa, kot je npr. poslovanje s strankami z delniškimi, obrestnimi in kreditnimi produkti in v manjšem obsegu lastno trgovanje. V prihodnje se bo obseg še krčil.
The difference in costs between winding up and continuing the activities of IBAG was described in greater detail. The total costs of winding up comprised the operational liquidation costs (EUR [...]**) plus a balance‐sheet shortfall.
Stroškovna razlika med likvidacijo in nadaljevanjem posla IBAG je bila podrobneje specificirana.
To determine the latter, a mock consolidated balance sheet was produced for three scenarios (best‐case, real‐case, worst‐case), giving a figure of EUR [...]**, EUR [...]** and EUR [...]** respectively.
Skupni stroški likvidacije so sestavljeni iz operativnih likvidacijskih stroškov [...]* EUR in bilančnega primanjkljaja.
To keep the firm going, on the other hand, the costs for the period from 2001 to 2005 would, depending on the scenario, amount to between EUR [...]** and EUR [...]** (for the real‐case scenario, EUR [...]*)*. Winding up IBAG, as opposed to continuing its activities, would therefore, depending on the scenario, involve additional costs of between EUR [...]** and EUR [...]**.
Za ugotavljanje slednjega je bila izdelana „senčna“ bilanca koncerna za tri scenarije (best case, real case, worst case) z naslednjimi ugotovljenimi zneski [...]* EUR, [...]* EUR oz. [...]* EUR. Pri nadaljevanju poslovanja bi v obdobju od 2001 do 2005 nastali naslednji stroški za vsak scenarij: od [...]* EUR do [...]* EUR (base-case [...]*EUR).
Moreover, winding up the firm would mean forgoing an annual positive profit contribution of EUR [...]** from 2006.
Tako bi likvidacija družbe IBAG v primerjavi z nadaljevanjem poslovanja glede na scenarij povzročila dodatne stroške v višini od [...]* do [...]* EUR. Poleg tega bi se v primeru likvidacije od leta 2006 odpovedali letnemu pozitivnemu rezultatu v višini [...]* EUR.
The market assumptions for the real estate and funds business were explained in greater detail.
Predvidevanja o razvoju trga za področja dejavnosti nepremičnin in skladov so bila navedena podrobneje.
According to information from the Central Association of the German Construction Industry, after contracting slightly in 2002 by some 2 %, the volume of construction output for the whole of Germany would come close to stagnation in 2003.
Po rahlem upadu leta 2002, ki je znašal približno 2 %, je po informacijah Centralne zveze nemškega gradbeništva skupen obseg gradenj v Nemčiji leta 2003 tako rekoč dosegel stagnacijo.
In residential construction there would be no turnaround (2003: decline of some 1 % after contracting by about 3 % in 2002), with the fall‐off being much greater in the eastern than in the western Länder, owing to the surplus supply of accommodation.
Pri gradnji stanovanj naj ne bi bilo spremembe trenda (2003: upad za približno 1 % po približno minus 3 % v letu 2002), pri čemer naj bi bil upad na vzhodu zaradi prenasičenosti trga s stanovanji bistveno bolj izrazit kot na zahodu.
Commercial construction would see only a slight increase of about 1 % in 2003.
V letu 2003 so se investicijske gradnje povečale le nekoliko, za približno 1 %.
The firm Bavaria’s capacity and turnover forecasts had been adjusted accordingly and a more targeted orientation adopted.
Tako se je zmogljivost in pričakovan promet prilagodil Bavarii in določena je bila bolj ciljna usmeritev.
In future, Bavaria would focus, in residential and commercial construction, on the top end of the market and, in view of the strong regional differentiation in residential development, on the regions of Hamburg, Munich, Stuttgart and Rhine‐Main in western Germany.
Bavaria se bo v prihodnje pri gradnji stanovanj, kot tudi na področju investicijskih gradenj, usmerila na segment višjega cenovnega razreda trga. Zaradi izrazitih regionalnih razlik v razvoju gradnje stanovanj pa se bo usmerila na zahodno-nemške regije Hamburg, München, Stuttgart in Ren-Main.
In the funds business, the closed funds segment was expected to grow significantly in future, following a decline in 2001.
Pri poslovanju s skladi se za tržni segment zaprtih skladov po upadu leta 2001 v prihodnje ponovno pričakuje občutna rast.
Real estate funds would continue to play a key role, with close on 50 % of the placing volume, as an alternative form of investment, with yields and risk between those of fixed‐interest securities and shares.
Nepremičninski skladi bodo še naprej igrali pomembno vlogo s približno 50 % volumna plasmaja kot alternativna oblika naložbenja, ki dosega donose med vrednostnimi papirji s stalnimi donosi in delnicami.
New IBV funds would be launched only for premium commercial buildings and would be accompanied by significantly reduced guarantees.
Novi skladi IBV-ja bi se ustanavljali le še za investicijske nepremičnine višjega cenovnega razreda in z bistveno skrčenim obsegom garancij.
This higher‐quality real estate could also help to improve yield security, although in any event business would be cut by more than half overall.
S temi objekti višje kakovosti bi bilo mogoče povečati tudi varnost donosa, pri čemer pa se bo poslovna dejavnost skupno zmanjšala za več kot polovico.
Regarding the market assumptions for the retail sector, Germany explained that in the Berlin conurbation each bank branch looked after 4000 inhabitants on average, which was significantly more than the average for Germany as a whole (1400).
O predvidevanjih glede razvoja trga na področju občanov je Nemčija še zlasti poudarila, da v urbani aglomeraciji Berlin ena bančna podružnica povprečno skrbi za skoraj 4000 prebivalcev, kar je znatno več kot znaša povprečje v Nemčiji (1400).
Although there was not a surplus of branches in Berlin, it was to be expected that the number would drop further in the coming years on account of other channels such as call centres and the Internet.
Čeprav v Berlinu podružnice ne skrbijo za preveč strank, je v prihodnjih letih zaradi drugih oskrbnih poti, kot so klicni centri in internet, treba računati z dodatnim krčenjem poslovnih enot.
The plan for sustainable improvement in the profitability of the retail sector addressed both cost and yield.
Osnutek za trajno izboljšanje donosnosti poslovanja z občani je zasnovan sočasno na odhodkih in prihodkih.
Key measures to lower costs included reducing branches according to current profitability, regional coverage and the estimated costs of closure/merger.
K osrednjim ukrepom za znižanje stroškov šteje skrčenje podružnic, ki je odvisno od aktualne donosnosti, regionalna pokritost in predvideni stroški zapiranja/združevanja.
The aim was to increase principal customer accounts per branch to [...]* at Berliner Sparkasse and [...]* at Berliner Bank by the end of 2003, as compared with an average of 2300 customers in the case of direct competitors in Berlin.
Cilj je povečano število strank na podružnico Berliner Sparkasse na [...]* in na podružnico Berliner Bank [...]* do konca 2003, v nasprotju s povprečno 2300 strank pri neposrednih tekmecih v Berlinu.
Further savings would result from the replacement of cost‐intensive traditional cash‐desk facilities by more modern facilities, thereby saving on 300 staff.
Nadaljnji prihranki izhajajo iz nadomestitve stroškovno intenzivnih, konvencionalnih blagajniških naprav z modernimi opremami, s čemer bi prihranili [...]* kapacitete zaposlenih.
Income could be increased still further by reallocating advice capacity to bring in the most attractive customer groups possible.
S spremembo alokacije iz svetovalskih zmogljivosti na osvajanje čim bolj privlačnih skupin strank bi se lahko prihodki še povečali.
Pure transactions business was to take place increasingly via online and self‐service facilities, while branches should focus more on customer advice.
Čisto transakcijsko poslovanje bi naj večinoma potekalo preko spletnih oz. samopostrežnih medijev, medtem ko naj bi se podružnice vedno bolj usmerjale na svetovanje strankam.
The forecast of increased demand in the retail sector was based on information from the Landeszentralbank Berlin, broker reports and assessments by the Federal Statistical Office in recent years.
Napovedan razvoj povpraševanja na področju občanov temelji na informacijah Landeszentralbank Berlin, poročilih posrednikov in analizah statističnega zveznega urada v preteklih letih.
As regards BGB’s market position in the individual segments of the local and regional retail sector, Germany supplied corrected figures showing lower volume‐based market shares ranging from a little over 20 % to more than 40 % in Berlin (see paragraph 291 et seq.).
Kar zadeva tržni položaj BGB v posameznih segmentih lokalnega in regionalnega poslovanja z občani je Nemčija predložila številke, popravljene navzdol, ki prikazujejo tržne deleže, ki veljajo za obseg v višini nekaj več kot 20 % do več kot 40 % za Berlin (glej obrobne številke 291 in naprej).
The growth forecast for Berlin, which, as a structurally weak region, lagged behind the national average of 2,5 %, was 2 %.
Napovedana rast za Berlin, ki leži kot strukturno šibka regija pod zveznim povprečjem 2,5 %, znaša 2 %.
Germany explained that, despite market shares of around 40 % in the retail deposit sector, BGB could not be said to be in a dominant position since the Berlin retail market was very competitive and customers could move from one bank to another without significant cost or effort.
Nemčija je razložila, da kljub skoraj 40 % tržnemu deležu v poslu vezanih vlog z občani ni mogoče govoriti o nadrejenem položaju BGB, ker je berlinski trg poslovanja s prebivalstvom zaznamovan z močno tekmovalnostjo, zato lahko stranka brez večjih stroškov in težav zamenja banko.
Furthermore, savings were overrepresented, whereas BGB was underrepresented compared with its market penetration when it came to more sophisticated forms of investment such as time deposits, savings bonds, security deposit accounts and other complex products, such as insurance, on account of its overwhelmingly low‐income customers.
Poleg tega obstaja nadsorazmerni tržni delež varčevalnih vlog, medtem ko je BGB s svojimi naložbenimi oblikami višje kakovostnimi, kot so vezane vloge, hranilna pisma, depoziti vrednostnih papirjev in drugimi zapletenimi naložbenimi produkti kot so zavarovanja zaradi svojega pretežno dohodkovno šibkejšega kroga strank preslabo zastopana glede na svojo navzočnost na trg.
The market assumptions for corporate banking were based, among other things, on broker reports and assessments by the Federal Statistical Office.
Predviden razvoj trga na področju poslovanja s podjetji temelji med drugim na poročilih posrednikov in analizah statističnega zveznega urada.
For the regional and local corporate segments, Germany also supplied figures that had been adjusted downwards and showed market shares of a little over or just under 25 % in Berlin (see paragraph 291 et seq.).
Tudi za segmente regionalnega in lokalnega poslovanja s podjetji je Nemčija predložila navzdol popravljene številke, ki prikazujejo tržne deleže v Berlinu nekaj več kot ali skoraj 25 % (glej obrobne številke 291 in naprej).
An average annual growth rate of 2 % was assumed for Berlin.
Za Berlin se predvideva povprečna 2 % stopnja rasti.
Profitability would be significantly increased through the optimisation of marketing and service processes and the introduction of standard products.
Donosnost naj bi se zaradi optimiranja prodajnega in storitvenega postopka in uvedbe standardnih produktov znatno povečala.
The number of locations was to be reduced from 73 to 35 across all customer segments.
Za vse segmente strank naj bi se število lokacij zmanjšalo iz 73 na 35.
Improved contribution margins would result from a rearrangement of the Berliner Bank and Berliner Sparkasse price model by standardising (increased) lower limits and exhausting all cross‐selling potential, together with greater division of labour among account managers.
Povečani pozitivni prispevki za kritje izhajajo iz preureditve cenovnega modela Berliner Bank in Berliner Sparkasse s poenotenjem (povečanih) spodnjih cenovnih meja in doslednim izčrpavanjem potenciala vzajemnega poslovanja, ter iz vse večje delitve dela svetovalcev strank.
What had led to the troubled real estate loans and the provision of guarantees in the real estate funds sector were, as already mentioned in the notification, the extremely optimistic expectations of a rise in the value of properties in Berlin and the new Länder following the unification of Germany.
Vzroki za slabe nepremičninske kredite in odobrene garancije na področju nepremičninskih skladov so bile, kot je že navedeno v uvodnih izjavah, izredno optimistične napovedi razvojne vrednosti nepremičnin v Berlinu in v novih deželah zaradi ponovne združitve Nemčije.
On the basis of these expectations, BGB had granted a large number of commercial real estate loans and, in the period prior to 1999, had set up increasingly large real estate funds with extensive guarantees for which, at the beginning of the real estate crisis in the late 1990s, a valuation adjustment and liability reserves were sorely needed.
Na osnovi tega je BGB velikopotezno odobravala industrijske nepremičninske kredite in do 1999 ustanavljala vedno večje nepremičninske sklade z obsežnimi garancijami, za katere so bili v začetku nepremičninske krize konec 90-tih let potrebni znatni popravki vrednosti oz. rezervacije.
On account of incomplete implementation of an early‐warning system to identify risks throughout the group and inadequate risk analysis at divisional level, these risks were not sufficiently recognised, with the result that countermeasures were not taken early enough.
Zaradi nepopolne uveljavitve sistema za hitro prepoznavanje tveganj v celotnem koncernu in zaradi nepravilnega vrednotenja tveganj v specializiranih bankah tveganja niso bila v zadostni meri prepoznana, zato je pravočasna preusmeritev izostala.
It was only in 2000, at the instigation of the group's executive board and auditors and on the basis of BAKred's special audit, that a value audit was conducted with stricter criteria, requiring the updating of numerous real estate data.
Šele leta 2000 se je na pobudo predsedstva koncerna in zaključnih revizorjev ter na osnovi posebne revizije, ki jo je zahtevala BAK, izvedla kontrola vrednosti, pri čemer so se ravnali so najstrožjih merilih, tako da je bilo treba aktualizirati številne podatke o zgradbah.
It was established in the course of this audit that the form and practical implementation of the early‐warning system did not yet meet legal requirements.
Pri tem je bilo ugotovljeno, da sistem za hitro prepoznavanje tveganj še ni dovolj izgrajen in se ne uporablja tako, da bi zadostoval zakonskim zahtevam.
When in 1994 the various divisions were brought together under BGB’s roof, this was because the Land of Berlin, as shareholder, wanted to create a strategic entity with as many synergy effects as possible.
Združitev različnih specializiranih bank pod okrilje BGB, izvedeno leta 1994, je bilo izvršeno zato, ker je želela dežela Berlin kot največja delničarka ustvariti strateško enoto s čim večjimi učinki sinergije.