STUART THEOBALD: Different processes at work in restructuring of African Bank and Land Bank
The bigger problem is that the future business model of the Land Bank is highly uncertain
SA’s financial authorities are pretty good at rescuing banks. Or at least they used to be.
In the same week that creditors who lost money in the restructuring of African Bank were granted another R400m from the wind down of the residual book, Land Bank creditors were shocked when the National Treasury took off the table a partial guarantee for restructured debt in the distressed state-owned bank. ..