The Central Bank of Nigeria (CBN) has approved the framework for the merger between Providus Bank Limited and Unity Bank Plc. This strategic union aims to combine the strengths of both institutions to create a leading financial powerhouse with a strong presence in retail, corporate, commercial, and digital banking.
Unity Bank Plc, with over 18 years of experience, boasts a robust retail banking network with more than 220 branches nationwide. Known for its strategic focus on agricultural business and exceptional customer service, Unity Bank has built a loyal customer base through its comprehensive range of financial products.
Providus Bank Limited, recognized for its innovative banking solutions and strong digital presence, has rapidly emerged as a new-generation bank. ProvidusBank’s commitment to leveraging technology to deliver cutting-edge financial solutions has set it apart as a forward-thinking institution catering to the evolving needs of modern consumers.
The merger is driven by a shared vision to provide an unparalleled banking experience. By combining Unity Bank’s extensive branch network and customer relationships with ProvidusBank’s digital innovation, the new entity aims to offer a seamless blend of traditional and modern banking services.
Customers can expect an expanded suite of products and services, enhanced convenience, and improved access to banking solutions across various channels. The integration of digital platforms will provide enhanced security, faster transactions, and a more personalized banking experience.
The merged entity is committed to maintaining high standards of corporate governance, financial stability, and customer satisfaction. A dedicated team of professionals from both banks will ensure a smooth transition, continuing the tradition of excellence in all operations.
This merger marks the beginning of a promising new chapter in the shared history of Providus Bank and Unity Bank. The combined strength of both institutions is expected to drive innovation, growth, and prosperity for customers, employees, and stakeholders alike.
The completion of the merger is subject to final approvals from the respective Boards, shareholders, and relevant regulatory authorities. Both banks extend their gratitude to the Central Bank of Nigeria for its approval and to their customers, employees, and partners for their unwavering support.
