Unity Bank Shareholders Approve Merger with Providus Bank
Unity Bank shareholders approve a landmark merger with Providus Bank, paving the way for the creation of a stronger and more competitive financial institution. The merger proposal received overwhelming support during a shareholder meeting at OOPL Hotel in Abeokuta, Ogun State, with 295 shareholders participating.
The merger plan entails Unity Bank shareholders receiving 18 ordinary shares in Providus Bank for every 17 ordinary shares held in Unity Bank. Upon completion, Unity Bank's share capital will be canceled, and the institution dissolved, while Providus Bank will operate under the new name Bank PUB.
The merger signifies a strategic move to enhance operational capacity, value delivery, and market presence.
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