ANC secretary general Gwede Mantashe met Nedbank chairman Reuel Khoza on Monday to discuss his comments on leadership in South Africa, the party said.
"We are happy that this interaction took part in a cordial atmosphere and was fruitful," African National Congress spokesman Jackson Mthembu said in a statement.
"The meeting resolved what was perceived as a stand-off and addressed a variety of issues related to governance and business leadership."
In Nedbank's annual report last month, Khoza wrote that South Africa's "strange breed" of leadership needed to adhere to the institutions that underpinned democracy.
The political climate was not a picture of an accountable democracy.
"Our political leadership's moral quotient is degenerating and we are fast losing the checks and balances that are necessary to prevent a recurrence of the past.
"We have a duty to build and develop this nation and to call to book the putative leaders who, due to sheer incapacity, cannot deal with the complexity of 21st century governance and leadership, cannot lead."
Mantashe later lashed out at Khoza at a press briefing with the party's top six officials.
"I would be very worried if the business community begins to think that it has a monopoly of understanding of political leadership," he told reporters.
Mthembu said it was resolved at Monday's meeting that there would be more meaningful interaction between the two parties in the future.
"We are encouraged that a variety of options in terms of engagement were considered," he said.