Land Bank’s annual integrated report for the year ended 31 March 2019 (FY2019) covers the primary activities and
performance of the Land Bank Group which includes our banking and insurance operations, but excludes detailed information
on minority investments.
The scope of the report covers both financial reporting and non-financial performance information. It contains the Group’s
outlook, targets and objectives for the short term (FY2020), as well as for the medium to long-term, as aligned to the
National Development Plan (NDP) and Sustainable Development Goals with clear targets to 2030. Our progress towards integrated
thinking is reflected in our performance indicators that cover financial and nonfinancial performance as well as our strategy,
material matters and risks.
Land Bank follows the guidance of the King Report on Governance for South Africa 2009 (King III) for its governance and reporting.
We are currently transitioning to the principles of the King IV Report on Corporate Governance for South Africa 2016 (King IV),
however, this report is aligned to King III.
This report is compiled and aligned with the requirements of the International Integrated Reporting Framework (IIRF) and is in
accordance with the ‘core’ level of the Global Reporting Initiative (GRI) G4. The financial information contained in this report
has been prepared in accordance with International Financial Reporting Standards (IFRS). We align our reporting to the requirements
of the Land and Agricultural Development Bank Act 15 of 2002, Companies Act 71 of 2008 and the Public Finance Management Act 1 of
1999 (as amended) (PFMA), as well as the Long Term Insurance Act 52 of 1998 and Short Term Insurance Act 53
10 September 2019
Limassol, September 10, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Land and Agricultural Development Bank and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.
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1 March 2019
Moody’s assign Baa3/Prime-3 issuer ratings to Land and Agricultural Development Bank of South Africa (Land Bank), which reflects Land Bank’s standalone assessment of ba3, and three
notches of uplift, incorporating the assumption of a high probability of government support from South Africa (Baa3 stable) in case of need, owing to its full government ownership,
developmental mandate and evidence of past capital and funding support. The issuer outlook is negative. Moody’s also assign Aa1.za/P-1.za national-scale issuer ratings.
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28 February 2019
Moody's affirms Land and Agricultural Development Bank's Baa3 rating; changes outlook to negative from stable.
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On 18 October 2010, Land Bank established a ZAR20-billion Domestic Medium-Term Note Programme pursuant to a
programme memorandum dated 18 October 2010. This Programme Memorandum was approved by the JSE on 13 March 2017.