New ProvidusUnity Bank begins Operations
ProvidusUnity Bank has commenced operations as a single financial institution following the successful merger between Providus Bank and Unity Bank.
The development has provided a larger and better-capitalised lender aimed at supporting Nigeria’s economic growth and expanding access to banking services.
The bank announced weekend that it had concluded all regulatory, shareholder and judicial processes required to complete the business combination, paving the way for the unified institution to begin operations.
The bank said the merger combines Providus Bank’s strengths in digital banking, innovation and customer-focused service with Unity Bank’s extensive branch network and nationwide market presence.
According to the Bank, the integration would create a stronger institution with greater financial capacity to serve individuals, small and medium-sized enterprises, corporates and communities across the country while deepening financial inclusion.
The newly established ProvidusUnity Bank said the merger aligns with ongoing reforms in Nigeria’s banking sector designed to strengthen financial institutions, improve resilience, protect depositors’ funds and position banks to support the country’s economic transformation.
