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Amid Bitcoin craze, NH, K bank facing quandary over ties with crypto exchanges Posted : 2021-05-25 16:30 Meanwhile, Shinhan to extend ties with local crypto exchange By Lee Min-hyung After Bitcoin reached a record high, local banks and asset management companies are unexpectedly busy to increase their exposure to cryptocurrencies, with the country s financial regulators poised to step in with forthcoming new rules. The general opinion is that crypto assets are quite promising on multiple fronts, in terms of their usage and applicable areas, with a lot of investment banks, including Goldman Sachs, studying how they could be used. However, South Korea has been maintaining the hawkish stance toward cryptocurrencies that holding crypto assets will pose grave risks for banks, general consumers and even investment banks. ....
NongHyup in quandary over dividend policy Posted : 2021-02-22 16:54 Updated : 2021-02-22 16:56 NongHyup Financial Group Chairman Son Byung-hwan speaks during its management strategy meeting at its headquarters in Seoul, Feb. 3. Yonhap By Lee Min-hyung NongHyup (NH) Financial Group is trying to decide on whether to reduce its dividend offerings, as financial watchdogs ratchet up pressure on the firm to maintain financial soundness by scaling down its profit returns amid the pandemic uncertainty. In 2020, the group paid dividends worth 500 billion won ($450.7 million) to its sole shareholder ― the National Agricultural Cooperative Federation (NACF). NH s dividend payout ratio last year reached 28 percent. But it remains unclear whether the company will be able to keep a similar level of dividend offerings this year, as other commercial banking groups are cutting their rates down to around 20 percent amid authorities growing pressure. The Financial S ....