The Land Bank says work is already under way to win back its good quality customers who left the bank after it halted lending due to defaulting on a R 40-billion debt in 2020.
The bank announced earlier today that it has concluded a landmark debt restructuring solution with all its lenders.
The debt restructuring solution will take effect on 16 September 2024, effectively ending Land Banks debt default position.
However, CEO Themba Rikhotso says the size of non-performing loans are still a cause for concern.
Land Bank concludes a landmark debt restructuring solution
