Providus Bank and Unity Bank have completed their business combination and will begin operations as a single unified institution under the name ProvidusUnity Bank, following the conclusion of all regulatory, shareholder, and judicial approval processes.
The announcement was made in a statement issued by the bank on Sunday, which described the newly formed institution as a stronger banking entity positioned to enhance capitalisation, expand national coverage, deepen financial inclusion, and support Nigeria’s long-term economic growth.
According to the statement, the merger combines Providus Bank’s innovation-driven, customer-focused service model and digital banking capabilities with Unity Bank’s extensive branch network and established market presence.
The combined institution is expected to provide a stronger platform for retail, small and medium-sized enterprise (SME), and corporate banking services across the country.
The bank said the merger aligns with ongoing reforms in Nigeria’s financial sector aimed at strengthening institutional resilience, protecting depositor confidence, improving competitiveness, and building banks capable of supporting economic transformation.
ProvidusUnity Bank expressed appreciation to the Central Bank of Nigeria for facilitating the transaction and reaffirming its commitment to strengthening the nation’s banking system.
The bank also thanked its shareholders, customers, employees, and other stakeholders for their support throughout the merger process.
According to the statement, the combined institution is expected to enhance the financial sector’s ability to mobilise investment, support enterprise development, expand access to credit, and contribute to Nigeria’s ambition of building a trillion-dollar economy.
The bank assured customers that the integration would result in expanded access to banking services, improved service delivery, stronger technology infrastructure, broader banking channels, and a wider national footprint.
It added that customers should expect uninterrupted banking services in the immediate term, while enhanced products and broader capabilities would be introduced gradually as the integration progresses.
For employees, ProvidusUnity Bank said the merger represents continuity, stability, and new opportunities for career development.
The bank reaffirmed its commitment to retaining talent, preserving institutional knowledge, and supporting employee growth within the newly established organisation.
