Providus, Unity Banks Complete Merger into One Institution

Providus Bank and Unity Bank have officially completed their merger and will now operate as a single financial institution under the name ProvidusUnity Bank. The transition follows the successful conclusion of all regulatory, shareholder, and judicial approval processes, marking a significant development in Nigeria’s banking sector.

According to a statement issued on Sunday, the newly formed ProvidusUnity Bank combines the innovation, digital strength, and customer-focused approach of Providus Bank with Unity Bank’s broad nationwide presence and established customer base. The merger creates a stronger institution that is well-positioned to deliver improved retail banking, SME banking, and corporate financial services across Nigeria.

The bank explained that the integration supports ongoing reforms aimed at building a stronger and more resilient banking industry. It noted that the ProvidusUnity Bank merger will improve capital strength, increase competitiveness, enhance financial inclusion, and reinforce confidence among depositors while supporting Nigeria’s long-term economic development.

The institution also expressed appreciation to the Central Bank of Nigeria (CBN) for its role in facilitating the merger. It thanked shareholders, customers, employees, and other stakeholders for their continued support throughout the process.

For customers, the ProvidusUnity Bank merger promises wider access to banking services, upgraded technology, expanded service channels, and a stronger national network. The bank assured account holders that banking operations will continue without disruption during the integration period, while new products and enhanced services will be introduced gradually.

Employees were also reassured that the merger represents stability and future growth. The bank affirmed its commitment to retaining skilled staff, preserving institutional expertise, and creating opportunities for career development. Through the ProvidusUnity Bank merger, the institution aims to strengthen investment, improve access to credit, support enterprise growth, and contribute to Nigeria’s ambition of becoming a trillion-dollar economy.