natgillin/translations-raw huggingface dataset:
The main pillars of the Restructuring Plan are enhanced corporate governance and risk management, a refocusing on the bank's core markets, a decrease of non-performing loans and a cost reduction programme.
Prihodnja poslovna strategija NLB se osredotoča na njene strateške trge poslovanja s prebivalstvom in MSP ter nekatere vrste poslovanja s podjetji.
The Restructuring Plan includes financial projections for NLB until 31 December 2017 under a base scenario and it also factors in the adverse scenario developed under the AQR/ST.
NLB načrtuje precejšnje zmanjšanje portfelja udeležb v skladu s strategijo osredotočanja na osrednje dejavnosti v strateških regijah.
The activities of the monitoring trustee will apply throughout the restructuring period.
poslovne stranke v industrijskem gradbenem sektorju (tveganju prilagojena aktiva, ki je 31. decembra 2013 znašala […] milijonov EUR, se bo do 31. decembra 2017 zmanjšala na […] milijonov EUR);
RETURN TO VIABILITY IN THE LONG RUN
poslovne stranke v industrijskem prometnem sektorju (tveganju prilagojena aktiva, ki je 31. decembra 2013 znašala […] milijonov EUR, se bo do 31. decembra 2017 zmanjšala na […] milijonov EUR); (iii) finančni holdingi (tveganju prilagojena aktiva, ki je 31. decembra 2013 znašala […] milijonov EUR, se bo do 31. decembra 2017 zmanjšala na […] milijonov EUR).
The two major issues with regard to restoring the viability of NLB are:
Zaradi izvajanja načrta prestrukturiranja in zlasti prenosa oslabljenih sredstev na DUTB se bodo skupna sredstva NLB, ki so 31. decembra 2012 znašala 14,5 milijarde EUR, do 31. decembra 2017 zmanjšala na [10–20] milijard EUR, tveganju prilagojena aktiva, ki je 31. decembra 2012 znašala 11,1 milijarde EUR, pa se bo do 31. decembra 2017 zmanjšala na [5–10] milijard EUR.
the implementation of up-to-date corporate governance structures and arrangements to ensure that NLB's decisions are business-oriented;
Sedanji portfelj NLB je v celoti financiran do njegove pogodbene zapadlosti.
and (ii) the overhaul of its credit policies and risk management processes, especially in the management of credit risk.
NLB se namerava v prihodnosti osredotočiti predvsem na vloge prebivalstva, ki so bile že v preteklosti njen vir financiranja, načrtuje pa tudi razširitev osnove za financiranje podjetij.
Corporate governance changes listed in the Annex will be implemented within three months after the date of adoption of this Decision, in accordance with the EU Capital Requirements Directive [8] and Slovenian domestic legislation.
Razmerje med posojili in vlogami, ki je leta 2012 znašalo 105 %, se bo do 31. decembra 2017 zmanjšalo na [70–80] %.
The resulting changes to the bylaws and internal rules of NLB seek to ensure that the management board of NLB will have the sole powers and responsibilities for managing the day-to-day business of NLB independently and in the sole interest of the bank.
NLB načrtuje tudi dolgoročni program za nadzor in zmanjšanje stroškov.
NLB will allocate two-thirds of the seats and voting rights on the supervisory board and its committees to independent experts.
NLB načrtuje, da bo dne 31. decembra 2017 donosnost lastniškega kapitala po obdavčitvi [5–10]-odstotna.
NLB will put arrangements in place to ensure an independent and objective internal audit function.
Slovenija bo svoj delež v NLB […] („[…]“) zmanjšala do […].
NLB will follow a prudent and sound business policy geared towards sustainability while implementing the planned measures.
Če Slovenija ni sklenila zavezujočih kupoprodajnih pogodb za prodajo svojega deleža NLB razen […], bosta Slovenija in NLB skrbniku za odprodajo dodelili izključno pooblastilo za prodajo […], […], […], […], […] in […].
NLB will further review its incentive and remuneration policies in order to ensure that they do not encourage unreasonable risk-taking, are geared towards long-term and sustainable goals, and are transparent and compliant with the European Banking Authority Guidelines on remuneration Policies and Practices of 10 December 2010.
PORAZDELITEV BREMENA
NLB will cap, until 31 December 2017, the total remuneration to any board member and employee performing special work in line with the relevant rules set forth in the 2013 Banking Communication [9].
Načrt prestrukturiranja določa prepoved izplačevanja kuponov in dividend ter razdelitve dobička v celotnem obdobju izvajanja načrta prestrukturiranja do 31. decembra 2017.
The variable annual remuneration of the management board and of employees performing special work employed in the front office functions will be limited to five monthly salaries.
Slovenija se zavezuje, da NLB v obdobju prestrukturiranja ne bo izplačevala kapitalskih instrumentov, razen če ta plačila izvirajo iz pravne obveznosti.
The variable amount of employees performing special work employed in other functions will be limited to three monthly salaries.
Slovenija se zavezuje tudi, da NLB ne bo izkoristila možnosti nakupa navedenih instrumentov ali jih odkupila brez predhodnega soglasja Komisije.
NLB will overhaul its internal pricing and risk management processes by implementing a number of rules and measures listed in detail in the Annex.
Država bo tako postala edini delničar NLB, pred prvo dokapitalizacijo marca 2011 pa je imela v lasti 33,1 % delnic.
In particular, pricing for new loans will be considered adequate if the new loan contributes to achieving a positive return on equity (hereinafter ‘RoE’) of at least […] [10] % in 2014, […] % in 2015, […] % in 2016 and […] % in 2017 on each client relationship, under the terms further specified in the Annex.
Slovenija se zavezuje, da bo prodala deleže NLB v družbah iz odstavka 3 Priloge, ki so dne 31. decembra 2012 predstavljali skupno vrednost sredstev v višini [100–150] milijonov EUR, in nestrateških podružnicah iz odstavka 4 Priloge, ki so dne 31. decembra 2012 predstavljale skupno vrednost sredstev v višini [950–1000] milijonov EUR.
NLB's assets will be split between a core unit (around EUR 10,6 billion) and a non-core unit (around EUR 2 billion).
NLB bo prodala tudi vse deleže v skupnih podjetjih, navedenih v odstavku 5 Priloge.
A pool of impaired assets composed of non-performing loans (for a nominal amount of EUR 2,3 billion) and a list of equities (having a market value of EUR 94 million) will be transferred to the BAMC in the context of an impaired assets measure.
Poleg tega bo NLB do […] zaprla […].
NLB will reduce its group balance sheet total from approximately EUR 17,9 billion in 2010 to EUR [10-20] billion by 31 December 2017.
Vsaka morebitna dokapitalizacija podružnic, ki bi jo NLB izvedla z vložki v obliki lastniškega kapitala, bo vpisana (i) s 25-odstotnim odbitkom cene delnic (po prilagoditvi za „učinek slabitve“, ocenjen z uporabo splošno sprejetih tržnih metod [11]) neposredno pred napovedjo kapitalskega vložka, ali (ii) po najnižji ceni, po kateri drugi delničarji navedenih podružnic prispevajo k dokapitalizaciji.
In addition to the State aid received in March 2011 and July 2012, an additional capital injection of 1,558 billion by the State is envisaged in the Restructuring Plan.
Za subjekte, ki ne kotirajo na organiziranem trgu, se bo tržna cena delnic določila z ustrezno in splošno sprejeto tržno metodologijo vrednotenja.
That third recapitalisation will immediately increase the Core Tier 1 ratio under the CRR of NLB to 15 %, and will also address the expected losses.
Če so taki kapitalski vložki v obliki hibridnih instrumentov, bodo ti instrumenti vsebovali alternativni mehanizem za izplačilo kuponov in določbo, ki določa menjalno razmerje hibridnega instrumenta v lastniški kapital s 25-odstotnim odbitkom TERP (ki se določi podobno kot pri vložku v obliki lastniškega kapitala).
It will therefore ensure that NLB will respect its regulatory capital requirements throughout the restructuring period.
UKREPI ZA OMEJEVANJE IZKRIVLJANJA KONKURENCE
NLB's future business strategy focuses on its core markets of retail, SME and selected corporate business activities.
Da bi omejila izkrivljanje konkurence, NLB načrtuje zmanjšanje svojih poslovnih dejavnosti v Sloveniji.
NLB plans a significant reduction of its participation portfolio consistent with its strategy of focussing on its core business in core regions.
Svojo bilančno vsoto, ki je leta 2010 znašala približno 17,9 milijarde EUR, bo do 31. decembra 2017 zmanjšala na [10–20] milijard EUR.
In that respect, the restructuring plan provides for a significant reduction of NLB's non-core business which encompasses the sale of all leasing and factoring/forfeiting activities and real estate management business and for the discontinuation, for the time being of the non-core business of providing new credit to corporate clients abroad.
Zaveze NLB vključujejo prodajo deležev banke na strateških trgih.
NLB will reduce its credit business in Slovenia in the following sectors ([…] % reduction of RWA on average between 31 December 2013 and 31 December 2017):
NLB bo do […] prodala […].
corporate clients in construction industrial sector (RWA from EUR […] million at 31 December 2013 to EUR […] million at 31 December 2017);
Ta prodaja bo vpliv NLB zmanjšala […].
corporate clients in transport industrial sector (RWA from EUR […] million at 31 December 2013 to EUR […] million at 31 December 2017; iii) financial holdings (RWA from EUR […] million at 31 December 2013 to EUR […] million at 31 December 2017).
Do […] bo odprodala tudi celoten delež v […].
NLB's current portfolio is fully funded until its contractual maturity.
NLB bo spoštovala prepoved izplačevanja kuponov in dividend, prevzemov ter oglaševanja in agresivne poslovne prakse v skladu s pogoji iz zadevnih odstavkov Priloge.
For the future, NLB plans to refocus strongly on retail deposits, which are its historical funding base, but also plans to have a diversified wholesale funding base.
Vzpostavljen je mehanizem za poplačilo kapitala, v skladu s katerim bo NLB dividende svojim delničarjem izplačala leta 2015, 2016 in 2017 [12].
Loan-to deposit ratios will improve from 105 % in 2012 to [70-80] % at 31 December 2017.
NLB bo v poslovnih letih 2015 in 2016 plačala nižji znesek od (i) 50 % kapitala, ki bo presegal veljavno regulativno kapitalsko zahtevo na podlagi evropske in slovenske zakonodaje (vključno s stebrom 1 in 2) plus kapitalske rezerve v višini 100 bazičnih točk, ali (ii) neto prihodka za zadevno leto.
NLB is also planning a far-reaching cost-control and cost-reduction programme.
V poslovnem letu 2017 bo plačala nižji znesek od (i) 100 % kapitala, ki bo presegal veljavno regulativno kapitalsko zahtevo na podlagi evropske in slovenske zakonodaje (vključno s stebrom 1 in 2) plus kapitalske rezerve v višini 100 bazičnih točk, ali (ii) neto prihodka za zadevno leto.
NLB's operating costs amounted to EUR 368 million in 2012 at group level.
Izplačevanje dividend se brez poseganja v pristojnosti Banke Slovenije kot bančnega nadzornika NLB začasno ustavi, če bi ogrozilo solventnost banke v prihodnjih letih.
NLB will reduce its operating costs at group level (excluded one-off extraordinary costs having non-recurrent nature, i.e. restructuring expenses) to EUR [300-350] million by 31 December 2014, EUR [300-350] million by 31 December 2015, EUR [250-300] million by 31 December 2016 and to EUR [200-250] million by 31 December 2017.
Opis Ukrepa Za Oslabljena Sredstva
At 31 December 2017 NLB projects to achieve a RoE after tax of [5-10] %.
Cilj
The Restructuring Plan provides financial projections over the period 2013-2017 pointing to a Core Tier 1 ratio under CRR of [10-20] % at 31 December 2017.
Ukrep za oslabljena sredstva bo NLB prinesel ugodnosti zaradi prenosa sredstev na DUTB.
If Slovenia has not entered into binding sale and purchase agreements for the sale of its shareholding in NLB apart from […], Slovenia and NLB will grant to the Divestiture Trustee an exclusive mandate to sell […], […], […], […],[…] and […].
Slovenija je DUTB ustanovila za podporo stabilnosti bančnega sektorja.
BURDEN-SHARING
Splošni cilj DUTB sta upravljanje in nadzorovana odprodaja pridobljenih sredstev, da se doseže čim večja vrednost izterjanih sredstev.
The Restructuring Plan provides for a coupon, dividend and profit distribution ban throughout the duration of the Restructuring Plan until 31 December 2017.
DUTB pri izvajanju te dejavnosti prispeva k prestrukturiranju finančnega sistema ob čim manjši uporabi javnih sredstev in čim manjšemu izkrivljanju trga.
Slovenia commits that NLB will refrain during the restructuring period from making any payments on capital instruments, unless those payments stem from a legal obligation.
DUTB lahko prevzame ali krije tveganja, zlasti terjatve, vrednostne papirje, izvedene finančne instrumente, pravice in obveznosti iz odobrenih kreditov ali garancij skupaj s pripadajočim zavarovanjem.
Slovenia also commits that NLB will not call or buy back those instruments without prior approval of the Commission.
DUTB bo NLB določeno vrednost ob prenosu plačala z dolžniškimi vrednostnimi papirji s poroštvom države, ki jih izda DUTB.
Coupons on capital instruments held by the State may be paid, unless such payments would trigger coupon payments to other investors that otherwise would not be mandatory.
Vrednost sredstev ob prenosu na DUTB bo enaka ali nižja od njihove realne ekonomske vrednosti, ki jo določijo strokovnjaki Komisije v skladu s pravili o državni pomoči.
That commitment not to pay coupons during the restructuring period does not apply to newly issued instruments (meaning instruments issued after the Commission's adoption of the present decision), provided any payment of coupons on such newly issued instruments will not create a legal obligation to make any coupon payments on NLB's securities existing at the moment of the adoption of the present decision.
Obseg prenosa oslabljenih sredstev in posojil
NLB's existing shareholders were already severely diluted due to the first and second recapitalisations in March 2011 and July 2012.
Prenos se nanaša na naslednje kategorije sredstev:
NLB's remaining subordinated securities amount to EUR 250 million.
družbe v stečaju, zavarovane s stanovanjskimi nepremičninami;
Slovenia commits that before any State aid (i.e. the third recapitalisation and the transfer of impaired assets to the BAMC) is granted NLB will write-down in full its shareholders' equity and outstanding subordinated debts.
terjatve do finančnih holdingov, ki jih je treba prestrukturirati;
As a result the State will become the sole shareholder of NLB, compared to the 33,1 % of shares it held before the first State recapitalisation in March 2011.
druge družbe v stečaju;
Slovenia commits to sell NLB's participations in the companies listed in paragraph 3 of the Annex, representing a total asset value of EUR [100-150] million as of 31 December 2012, and in non-core subsidiaries listed in paragraph (4) of the Annex, representing a total asset value of EUR [950-1000] million as of 31 December 2012.
druge terjatve, zavarovane s stanovanjskimi nepremičninami;
NLB will also sell all of its joint venture participations listed in paragraph (5) of the Annex.
finančni holdingi;
Any possible recapitalisation by NLB of its subsidiaries via equity injections will be subscribed at (i) 25 % discount to the share price — after adjustment for the ‘dilution effect’ quantified using generally accepted market techniques [11] — immediately prior to the announcement of the capital injection or (ii) the lowest price at which other shareholders of those subsidiaries contribute to the recapitalisation.
prevozne družbe;
For non-listed entities, the market value of the shares will be established using an appropriate and generally accepted market-based valuation methodology.
druge nedonosne izpostavljenosti.
If any such capital injection takes the form of hybrids instruments, those instruments will contain an alternative coupon satisfaction mechanism and a provision determining the conversion rate of the hybrid instrument into equity capital at 25 % discount to the TERP (established in an analogical fashion to the case of equity injection).
Portfelj, ki bo prenesen, obsega 2,3 milijarde EUR v nominalnem znesku za posojila in 94 milijonov EUR v tržni vrednosti za lastniške instrumente.
DISTORTION OF COMPETITION MEASURES
Metodologija za izračun vrednosti ob prenosu
In order to limit distortion of competition, NLB plans to reduce its business activities in Slovenia.
Vrednost ob prenosu je predhodno določila Banka Slovenije v skladu z metodologijo, določeno v zakonu o ustanovitvi DUTB.
NLB will reduce its balance sheet total from approximately EUR 17,9 billion in 2010 to EUR [10-20] billion by 31 December 2017.
Metodologija temelji na oceni neto sedanje vrednosti prihodnjih denarnih tokov.
NLB's commitments include the sale of banking participations in strategic markets.
Za velike izpostavljenosti se je izvedla posamična ocena prihodnjih denarnih tokov, za manjše izpostavljenosti pa se je uporabil poenostavljen pristop z oceno, ki temelji na verjetnosti neplačila posojila in značilnostih izgub ob neplačilu.
NLB will sell its […] by […].
Prihodnji denarni tokovi za družbe v stečaju in problematična posojila so se določili s tržno vrednostjo zavarovanj in jamstev.
That sale will reduce NLB's influence […].
Vrednosti teh zavarovanj so se ocenile na podlagi poročil, ki so jih neodvisni strokovnjaki pripravili v zadnjih 12 mesecih.
NLB will also fully divest its shareholding in […], by […].
Nato se je z obrestno mero brez tveganja izračunala neto sedanja vrednost prihodnjih denarnih tokov.
NLB will reduce its credit activities in the construction, transport and financial holdings sectors in Slovenia by reducing RWA by […] % on average in those sectors from 31 December 2013 to 31 December 2017.
Vrednost ob prenosu
NLB will discontinue the business strategy of providing new credit activities to corporate clients abroad.
Vrednost sredstev NLB ob prenosu, kakor jo je določila Slovenija, znaša 617 milijonov EUR za posojila (kar je enako 27 % njihove bruto knjigovodske vrednosti) in 94 milijonov EUR za lastniške instrumente.
NLB will discontinue all leasing, factoring, and forfeiting business through the divestment of subsidiaries in Slovenia and abroad.
Slovenija se je zavezala, da bo vrednost sredstev ob prenosu na DUTB enaka ali nižja od njihove realne ekonomske vrednosti, ki jo določijo strokovnjaki Komisije v skladu s pravili o državni pomoči.
NLB will comply with a coupon ban, a dividend ban, an acquisition ban and a ban on advertising and aggressive commercial practices according to the terms specified in the relevant paragraphs of the Annex.
Slovenski organi so predložili analizo, ki jo je izvedla Banka Slovenije in v kateri je potrdila podrobne rezultate in finančne učinke prenosa sredstev z NLB na DUTB.
A capital repayment mechanism is put in place according to which NLB will pay dividend disbursements to its shareholder in 2015, 2016 and 2017 [12].
Tržna cena
For the fiscal years 2015 and 2016, NLB will pay the lower of (i) 50 % of the excess capital above the applicable regulatory capital requirement under European and Slovenian law (including pillar 1 and 2) plus a capital buffer of 100 basis points or (ii) the net income for the relevant year.
Slovenija ni ocenila tržne vrednosti portfelja.
For the fiscal year 2017, NLB will pay the lower of (i) 100 % of the excess capital above the applicable regulatory capital requirement under European and Slovenian law (including pillars 1 and 2) plus a capital buffer of 100 basis points or (ii) the net income for the relevant year.
Neodvisno strokovno svetovanje Komisiji
Without prejudice to the competences of the Bank of Slovenia as banking supervisor of NLB, the dividend disbursement shall be suspended if it would endanger the solvency position of the bank in the following years.
Komisiji so pri oceni predlagane metodologije in cene ob prenosu v povezavi z realno ekonomsko vrednostjo prenesenih sredstev ter izračunu tržne cene teh sredstev, kot je določeno v sporočilu o oslabljenih sredstvih [13], referenčnem okviru ukrepa, pomagali neodvisni strokovnjaki.
DESCRIPTION OF THE IMPAIRED ASSETS MEASURE
RAZLOGI ZA ZAČETEK FORMALNEGA POSTOPKA PREISKAVE
a.
Komisija je v zvezi z ukrepoma dokapitalizacije in različico načrta prestrukturiranja, ki jo je predložila Slovenija, 2. julija 2012 začela formalni postopek preiskave glede tega, ali so kot pomoč za prestrukturiranje združljivi z notranjim trgom.
Objective
Komisija je takrat dvomila, da različica načrta prestrukturiranja za NLB, ki jo je prejela, zagotavlja ponovno vzpostavitev dolgoročno uspešnega poslovanja, ustrezno porazdelitev bremena in ukrepe za omejevanje izkrivljanja konkurence [14].
NLB will benefit from an impaired asset measure by transferring assets to the BAMC.
Komisija je v okviru vprašanj v zvezi z uspešnim poslovanjem dvomila, da je postopek odločanja v NLB v skladu s tržnimi normami in zlasti glede morebitnih vprašanj v zvezi s korporativnim upravljanjem, povezanih s posredovanjem države kot glavnega delničarja banke pri vsakodnevnem poslovanju [15].
The aim of that measure is to remove uncertainty about the future value of its most problematic asset portfolio and ensure that NLB will concentrate on the implementation of the Restructuring Plan.
PRIPOMBE ZAINTERESIRANIH STRANI
b.
Zainteresirane tretje strani v zvezi s formalnim postopkom preiskave niso predložile pripomb.
Set up and characteristics
STALIŠČE SLOVENIJE
Slovenia established the BAMC to support the banking sector stability.
Slovenija se strinja, da prva dokapitalizacija, druga dokapitalizacija, tretja dokapitalizacija in prenos oslabljenih sredstev na DUTB pomenijo državno pomoč v smislu člena 107(1) PDEU.
The overall objective of the BAMC is the management and orderly divestment of the assets it receives, maximising their recovery.
Slovenija meni tudi, da so navedeni ukrepi združljivi z notranjim trgom na podlagi člena 107(3)(b) PDEU.
The BAMC will pay NLB the established transfer value by State-guaranteed debt securities issued by the BAMC.
Da bi zagotovila preudarno odločanje pri upravljanju dejavnosti banke, je Slovenija preložila zaveze za krepitev korporativnega upravljanja banke.
Scope of the transfer of impaired assets and loans
Če kateri rok za odprodajo ne bo upoštevan, bo imenovan skrbnik za odprodajo.
The transfer concerns the following categories of assets:
OCENA
companies in bankruptcy with housing real estate as collateral;
OBSTOJ IN ZNESEK POMOČI
claims to financial holdings to be restructured;
Komisija je že ugotovila [17], da prva in druga dokapitalizacija NLB pomenita državno pomoč, čemur Slovenija ni ugovarjala.
other claims with housing real estate as collateral;
Člen 107(1) PDEU določa, da je vsaka pomoč, ki jo dodeli država članica, ali kakršna koli vrsta pomoči iz državnih sredstev, ki izkrivlja ali bi lahko izkrivljala konkurenco z dajanjem prednosti posameznim podjetjem, nezdružljiva z notranjim trgom, kolikor prizadene trgovino med državami članicami.
financial holdings;
Ker bo tretjo dokapitalizacijo v višini 1,558 milijarde EUR neposredno izvajala Republika Slovenija, Komisija ugotavlja, da ukrep izhaja iz državnih sredstev.
construction companies;
NLB bo s pomočjo tretje dokapitalizacije pridobila kapital, ki ga v okviru finančne in gospodarske krize zaradi velike negotovosti slovenskega bančnega sektorja ne bi mogla pridobiti na trgu.
transport companies;
Komisija zato meni, da vlagatelj v tržnem gospodarstvu tretje dokapitalizacije ne bi izvedel.
other non-performing exposures.
Tretjo dokapitalizacijo je torej treba razumeti kot zagotavljanje prednosti NLB.
On 17 May 2013 Slovenia sent to the Commission a preliminary list of assets to be transferred from NLB to the BAMC amounting to EUR 1,9 billion.
Poleg tega je ta prednost selektivna, saj prinaša ugodnosti samo eni banki.
That list has been further updated since then.
Glede na to, da je NLB dejavna v finančnem sektorju, ki se sooča z ostro mednarodno konkurenco, in bo v njem dejavna še naprej, bi lahko kakršna koli prednost zaradi dajanja državnih sredstev banki vplivala na trgovino znotraj Unije in izkrivljala konkurenco.
The size of the portfolio to be transferred is EUR 2,3 billion of nominal for loans and EUR 94 million of market value for equities.
Tretja dokapitalizacija torej pomeni državno pomoč v smislu člena 107(1) PDEU.