PROVIDUSUNITY BANK BEGINS OPERATIONS AFTER LANDMARK MERGER

ProvidusUnity Bank has officially commenced operations following the successful completion of its merger between Providus Bank and Unity Bank, creating one of Nigeria’s emerging mid-tier financial institutions with enhanced capacity to serve businesses and individuals.

The Central Bank of Nigeria (CBN) approved the merger as part of ongoing industry consolidation efforts aimed at strengthening financial stability and expanding service delivery. The new entity combines the strengths of both legacy banks in corporate banking, retail services, and digital innovation.

ProvidusUnity Bank Group Managing Director, Mr. Ebenezer Onyeagwu, expressed optimism about the bank’s future, stating that the merger would unlock greater value for customers through wider branch networks, improved technology, and diversified product offerings. “This is a new chapter focused on excellence, inclusion, and sustainable growth,” he said during the official launch.

The bank has assured customers of seamless transition, with all accounts, services, and staff retained under the new identity. It plans aggressive expansion in SME financing, digital banking, and agricultural value chains.

Industry analysts view the merger as a positive development that aligns with the CBN’s recapitalisation goals and could intensify competition in the banking sector.

ProvidusUnity Bank has pledged to uphold the highest standards of corporate governance and customer service as it positions itself as a key player in Nigeria’s evolving financial landscape.