Providus Bank and Unity Bank have completed their business combination and will commence operations as a single unified institution following the conclusion of all regulatory, shareholder and judicial approval processes.
The development was announced in a statement issued by the bank on Sunday.
According to the statement, the new institution, ProvidusUnity Bank, is strategically positioned to strengthen capitalisation, expand its national footprint, deepen financial inclusion and support Nigeria’s long-term economic development.
It said the merger combines Providus Bank’s innovation-driven, customer-focused banking model and advanced digital capabilities with Unity Bank’s extensive branch network and established market presence.
The bank noted that the integration would create a stronger platform for delivering retail, small and medium enterprise (SME), and corporate banking services across the country.
It added that the combination aligns with ongoing reforms in Nigeria’s banking sector aimed at strengthening institutional resilience, protecting depositors’ confidence, enhancing competitiveness and building stronger financial institutions capable of supporting economic transformation.
The statement expressed appreciation to the Central Bank of Nigeria (CBN) for facilitating the transaction and reaffirmed the institution’s commitment to promoting a stronger and more resilient banking system.
It also thanked shareholders, customers, employees and other stakeholders for their continued support throughout the merger process.
According to the bank, ProvidusUnity Bank is expected to enhance the financial sector’s ability to mobilise investment, support enterprise development, expand access to credit and contribute to Nigeria’s aspiration of building a one trillion-dollar economy.
The bank assured customers that the merger would result in expanded access to banking services, improved service delivery, stronger technology infrastructure, wider banking channels and a broader national presence.
It stated that customers would continue to enjoy uninterrupted banking services in the immediate term, while enhanced products and expanded capabilities would be introduced progressively.
The bank also assured employees that the merger guarantees continuity, stability and opportunities for career development, adding that it remains committed to retaining talent, preserving institutional knowledge and fostering professional growth within the new organisation.
