Pillar II has only three remaining profitable funds

The Pillar II yield average is positive, at +1.64 percent, due almost exclusively to the influence of ING results. If the market leader were to be excluded from the calculation, average yields would drop to -1 percent.

BT Aegon and AIG are the two other funds that managed to remain on profit.

Former Simcor chief could take over Arcelor Mittal Galati lime business

george.sarcinschi@standard.ro

German businessman Stache Lutz, who recently sold his majority share in Simcor for €53 million, could use part of the funds to take over the Arcelor Mittal lime business, said Mihai Voiculescu, one of his former associates at Simcor.

Macon Deva, the company that acquired Lutz’s Simcor shares, estimates consolidated turnover of over €75 million. Turnover rose 28 percent last year, to €40 mln.