Providus Bank and Unity Bank Complete Successful Merger

Providus Bank and Unity Bank have announced the successful completion of their merger, which will result in the commencement of operations as a single unified institution. This merger has received regulatory, shareholder, and judicial approvals.

The newly formed entity, known as Providus-Unity Bank, aims to combine Providus Bank's innovative, customer-centric service model with Unity Bank's extensive geographical reach to establish a stronger market presence. The merger is aligned with ongoing reforms in Nigeria's financial sector, focusing on strengthening institutional resilience, protecting depositor confidence, and improving competitiveness.

Providus-Unity Bank will enhance its capacity to mobilize investments, support enterprise development, and expand access to credit, contributing to Nigeria's goal of building a trillion-dollar economy. The bank has expressed appreciation to the Central Bank of Nigeria for facilitating the transaction and reaffirmed its commitment to strengthening the country's banking system.

The merger is expected to improve service delivery and technological infrastructure while ensuring uninterrupted banking services during the transition.