Kuntatt magħna

ekonomija

Għajnuna mill-Istat: Il-Kummissjoni tapprova għajnuna għar-ristrutturar għall-banek Grieg Eurobank

SHARE:

ippubblikat

on

downloadThe European Commission has found the restructuring plan of Eurobank Group to be in line with EU state aid rules. The plan will enable the bank to become viable in the long term without unduly distorting competition. Greece has committed to a comprehensive set of measures covering both the restructuring of Eurobank’s activities and the credit policy of the group.

On the basis of the plan, the Commission has approved under EU state aid rules the restructuring aid granted by Greece to Eurobank Ergasias S.A., including recapitalizations by the Hellenic Financial Stability Fund (HFSF) in 2012 and 2013, as well as the HFSF’s backstopping of the ongoing recapitalization. The Commission has also approved Eurobank’s acquisition of Nea Proton Bank and New Hellenic Postbank, whose integration within Eurobank will reinforce the viability of the group without unduly distorting competition.

Commission Vice President in charge of competition policy Joaquín Almunia said: “The restructuring of Eurobank is an important step forward for the Greek banking sector. The restructuring plan approved today reinforces the viability of the bank and ensures that it will be strong enough to support recovery in Greece by providing credit to the real economy.”

Eurobank’s restructuring plan

Mill-2008, il-Greċja u l-HFSF taw kapital ripetut u appoġġ ta ’likwidità lil Eurobank Ergasias SA Il-Kummissjoni fetħet investigazzjoni fil-fond f’Lulju 2012 biex tivvaluta jekk il-miżura kinitx konformi mar-regoli tal-UE dwar għajnuna mill-istat għall-banek matul il-kriżi (ara IP / 12 / 860).

Eurobank’s restructuring plan runs until 2018. It mainly aims at a deeper refocusing on core banking activities in Greece and a return of these operations to strong profitability:

  • Il-Eurobank diġà beda jirrazzjonalizza n-netwerk tal-fergħat Griegi tiegħu u ċeda sussidjarji fit-Turkija u l-Polonja. Mill-2012, ikkonverta u xtara lura dejn subordinat bi skont sinifikanti sabiex jiġġenera kapital. L-ebda dividend ma tħallas fi flus mill-2008 u l-pussess ta ’azzjonisti storiċi niżel taħt it-2% wara r-rikapitalizzazzjoni tal-HFSF. Il-bank se jkompli jirristruttura u jnaqqas l-ingranaġġ tal-operazzjonijiet internazzjonali tiegħu, jiddisponi minn attivitajiet mhux ewlenin fil-Greċja u jtejjeb l-effiċjenza operattiva u l-marġni nett tal-imgħax tiegħu, notevolment billi jnaqqas aktar l-ispejjeż tiegħu.
  • Il-Greċja impenjat ruħha wkoll li l-Eurobank se jimplimenta qafas ta ’governanza korporattiva u politika ta’ kreditu prudenti bbażata fuq prattiki kummerċjali sodi, notevolment rigward tranżazzjonijiet mal-azzjonisti u l-maniġers tagħha.

Dawn l-impenji se jiġu mmonitorjati minn trustee.

reklam

The Commission also notes positively that for Eurobank’s current capital increase, which HFSF is backstopping, the subscription price for the new shares has been determined on the basis of two independent appraisals of the fair value of the bank. This will avoid an excessive dilution of the HFSF which owns more than 90% of Eurobank since its 2013 recapitalisation. Moreover, if the HFSF has to inject a sizeable amount of capital in the context of the ongoing recapitalisation, Greece has committed to further deleverage the international activities of the bank. This enabled the Commission to adopt a decision before the capital increase was closed.

Fl-evalwazzjoni tagħha, il-Kummissjoni qieset il-fatt li d-diffikultajiet tal-Eurobank ma jiġux prinċipalment minn teħid ta ’riskju eċċessiv iżda mill-kriżi sovrana u r-riċessjoni profonda u eċċezzjonalment relatata li bdiet fl-2008. Il-Kummissjoni għalhekk qablet ma’ tnaqqis iżgħar milli għal każijiet oħra ta 'ristrutturar diġà approvati mill-Kummissjoni, speċjalment fis-suq domestiku fejn il-Kummissjoni aċċettat li l-bank ma jnaqqasx il-karta tal-bilanċ tiegħu matul il-perjodu ta' ristrutturar.

Madankollu, il-miżuri ta ’ristrutturazzjoni u governanza estensivi li għandhom jiġu implimentati, bħat-tnaqqis ta’ operazzjonijiet internazzjonali u attivitajiet mhux ewlenin fil-Greċja, il-kontribuzzjoni ta ’azzjonisti u kredituri subordinati jew ir-ristrutturar ta’ operazzjonijiet kummerċjali fil-Greċja, jipprovdu salvagwardji adegwati biex jillimitaw id-distorsjonijiet tal-kompetizzjoni maħluqa mill-għajnuna mill-istat u jiżguraw li l-bank u s-sidien tiegħu jikkontribwixxu biżżejjed għall-ispiża tar-ristrutturar u r-rikapitalizzazzjoni tal-bank.

Il-Kummissjoni għalhekk approvat il-miżuri kollha ta 'appoġġ kapitali u ta' likwidità.

Akkwisti ta 'Nea Proton Bank u New Hellenic Postbank mill-Eurobank

F’Lulju 2012 (ara IP / 12 / 854) u Mejju 2013, il-Kummissjoni kienet fetħet investigazzjonijiet fil-fond dwar l-għajnuna statali sinifikanti mogħtija lil Nea Proton Bank u lil Hellenic Postbank il-ġdid, il-banek bridge li kellhom l-attivitajiet ta ’Proton Bank u Hellenic Postbank rispettivament. F’Lulju 2013, iż-żewġ banek ġew offruti għall-bejgħ. Il-Eurobank intgħażel bħala l-offerent preferut għat-tnejn.

Taħt ir-regoli tal-UE dwar l-għajnuna mill-Istat, u b'mod partikolari taħt il-Komunikazzjoni dwar ir-Ristrutturar (ara IP / 09 / 1180), banek li rċevew għajnuna mill-istat normalment ma jitħallewx jixtru assi matul il-perjodu ta ’ristrutturar, sabiex jiġi evitat li jinqatgħu l-investituri li joperaw mingħajr għajnuna mill-istat u biex jiġi żgurat li l-għajnuna tkun strettament limitata għall-ispiża tar-ristrutturar.

However, in this case, no non-aided investors submitted valid offers for the two bridge banks during the open, transparent and non-discriminatory sale processes. Eurobank also benefits from synergies with the two banks and from their large deposit base, which in turn reinforces Eurobank’s viability and reduces the restructuring costs of both Eurobank and the acquired entities. In addition, the transactions will not trigger any additional state aid for Eurobank in the future since the acquired entities were adequately capitalised. Finally, none of the two bridge banks was viable on a standalone basis, so that their sale to a viable group was necessary to restore financial stability. Both banks will therefore exit the market as autonomous competitors. In these exceptional circumstances the Commission considered the acquisitions to be no obstacle to the restructuring of Eurobank. The Commission has also approved the aid received by Nea Proton Bank and new Hellenic Postbank on the basis of Eurobank’s restructuring plan.

Sfond

Il-Eurobank jipprovdi servizzi bankarji universali prinċipalment fl-Ewropa tal-Lvant u tax-Xlokk, b'enfasi fuq il-Greċja, fejn huwa r-raba 'l-akbar bank f'termini ta' self nett u depożiti. Huwa bbenefika minn għajnuna statali sinifikanti, inklużi garanziji statali u appoġġ kapitali mogħtija mill-Istat fl-2009 u l-HFSF fl-2012 u l-2013. B’mod partikolari, il-Greċja ssottoskriviet fl-2009 € 950 miljun ta ’ishma preferenzjali u l-HFSF injettat mill-2012 qrib € 6 biljun ta 'kapital f'Eurobank.

To cover capital needs identified by the Bank of Greece in the framework of stress tests, Eurobank needs additional capital of €2.864bn. The HFSF is backstopping the capital increase, as, according to Greek law, it has to subscribe any remaining shares of Eurobank in case of insufficient demand from private investors. The Commission welcomes that HFSF’s intervention is now only triggered if the prior conversion of existing subordinated capital instruments into shares does not provide sufficient capital, in line with state aid rules adopted in July 2013 (see IP / 13 / 672).

Il - Kummissjoni evalwat il - miżuri mogħtija lill - Eurobank taħt ir - regoli dwar l - għajnuna mill - Istat għar - ristrutturar tal - banek matul il - kriżi (ara IP / 13 / 672 u, MEMO / 13 / 886). These rules are aimed at restoring the long-term viability of banks, ensuring that the aid is limited to the minimum necessary to achieve this result without a waste of taxpayers’ money and limiting the distortions of competition brought about by the subsidies, which give aided banks an advantage over their competitors who received no such state aid.

Il-verżjoni mhux kunfidenzjali ta 'din id-deċiżjoni se jsiru disponibbli taħt il-każ numru SA.34825 ġol Reġistru Għajnuna mill-Istat fuq il kompetizzjoni websajt ladarba xi kwistjonijiet ta 'kunfidenzjalità ġew solvuti. Pubblikazzjonijiet ġodda ta 'deċiżjonijiet għajnuna mill-Istat fuq l-internet u fil-Ġurnal Uffiċjali huma elenkati fl- Stat Weekly Għajnuna e-News.

Aqsam dan l-artikolu:

EU Reporter jippubblika artikli minn varjetà ta' sorsi esterni li jesprimu firxa wiesgħa ta' opinjonijiet. Il-pożizzjonijiet meħuda f'dawn l-artikoli mhumiex neċessarjament dawk ta' EU Reporter.

Trending