ProvidusUnity Bank to Launch as Unified Banking Institution

ProvidusUnity Bank is preparing to begin operations as a unified institution after the successful completion of the business combination between Providus Bank and Unity Bank. This merger follows the introduction of a landmark recapitalization policy by the Central Bank of Nigeria (CBN) on March 28, 2024, which mandates banks to significantly increase their minimum capital base within a strict 24-month window, concluding on March 31, 2026.

The creation of ProvidusUnity Bank aims to strengthen the capital base of the banking sector, enhance financial inclusion, and support Nigeria's long-term economic growth. The new bank will leverage the innovative, customer-centric service culture of Providus Bank and the broad geographical reach of Unity Bank to create a stronger platform for serving individuals and businesses across Nigeria.

ProvidusUnity Bank acknowledges the support of its shareholders, customers, employees, and stakeholders, emphasizing its commitment to preserving institutional knowledge and building a resilient organization.