The Land Bank on Tuesday confirmed that its chief financial officer Wolf Meyer has resigned, a spokesman said.
"[He] has accepted a more competitive offer at another institution. He leaves the bank on 10 June 2011," Musa Mchunu said in a statement.
CEO Phakamani Hadebe thanked Meyer for his contribution to the company.
"I would like to express the Land Bank's gratitude to Wolf Meyer for the role he has played in stabilising the bank's finances and contributing to the unqualified audits the bank has received in the past two years.
"Wolf leaves a strengthened team in finance, and the bank is taking appropriate steps to ensure rapid succession and appropriate capacity in the business unit."