The Central Bank of Nigeria (CBN) has given its approval for the merger between Providus Bank Limited and Unity Bank Plc, marking a significant milestone for both financial institutions. This strategic union aims to leverage the strengths of both banks, creating a leading entity in the industry with extensive capabilities in retail, corporate, commercial, and digital banking.
Unity Bank Plc, with a rich legacy spanning over 18 years, boasts a robust retail banking network of more than 220 branches nationwide. The bank’s strategic focus on the agricultural sector and commitment to exceptional customer service has earned it the trust and loyalty of millions of customers.
Providus Bank Limited, known for its innovative approach to banking, has a strong digital presence and a reputation for delivering cutting-edge financial solutions. As a fast-growing new-generation bank, ProvidusBank has consistently pushed technological boundaries to meet the evolving needs of modern consumers.
The merger is driven by a shared vision to provide an unparalleled banking experience. Combining Unity Bank’s extensive branch network and customer relationships with Providus Bank’s digital expertise and innovative spirit, the new entity aims to offer a seamless blend of traditional and modern banking services.
Customers will benefit from an expanded range of products and services, greater convenience, and improved access to banking solutions across various channels. The integration of digital platforms will enhance security, speed up transactions, and provide a more personalized banking experience.
The management of both banks has expressed their commitment to maintaining high standards of corporate governance, financial stability, and customer satisfaction throughout the merger process. A united team of professionals will ensure a smooth transition and continue the tradition of excellence in all operations.
This merger signifies the beginning of a promising new chapter, with the combined strength of both entities poised to drive innovation, growth, and prosperity for customers, employees, and stakeholders. The banks extend their gratitude to the CBN for its approval and to their customers, employees, and partners for their unwavering support.
Together, Providus Bank and Unity Bank are set to achieve greater heights and redefine the future of banking in Nigeria.