ProvidusUnity Bank set to begin operations after merger

Providus Bank and Unity Bank are set to commence operations as a single unified institution following the successful completion of their business combination, alongside the conclusion of all required regulatory, shareholder and judicial approvals.

In a statement issued on Sunday, the bank noted that the newly established entity, ProvidusUnity Bank, represents a consolidated financial institution strategically positioned to strengthen capitalisation, expand national coverage, deepen financial inclusion, and support Nigeria’s long-term economic ambitions.

“The merger integrates Providus Bank’s innovation-driven, customer-centric service model and advanced digital capabilities with Unity Bank’s extensive geographic reach and well-established market presence.

“This combination creates a stronger platform for delivering retail, SME, and corporate banking services across the country.

“The development aligns with ongoing reforms in Nigeria’s financial sector aimed at enhancing institutional resilience, safeguarding depositor confidence, improving competitiveness, and building banks capable of driving economic transformation,: it said.

The bank expressed appreciation to the Central Bank of Nigeria for its role in facilitating the transaction and reaffirmed its commitment to strengthening the banking system. It also acknowledged the continued support of shareholders, customers, employees, and other stakeholders.

ProvidusUnity Bank stated that the merger is expected to enhance the financial sector’s capacity to mobilise investment, support enterprise development, expand access to credit, and contribute to Nigeria’s aspiration of building a trillion-dollar economy.

For customers, the bank said the integration will provide expanded access, improved service delivery, stronger technology infrastructure, broader banking channels, and a wider national footprint aimed at improving the consistency and efficiency of services.

It added that customers should expect continuity in service in the immediate term, with gradual access to enhanced products and broader capabilities over time.

For employees, the bank described the transaction as one that ensures continuity, opportunity, and stability, adding that it remains committed to retaining talent, preserving institutional knowledge, and supporting career growth within the new organisation.