Central Bank of Nigeria Approves ProvidusBank and Unity Bank Merger Framework
Providus Bank and Unity Bank Plc have jointly released a press statement announcing that the Central Bank of Nigeria has approved the framework for the merger between Providus Bank Limited and Unity Bank Plc, signifying a pivotal moment in the development of both institutions.
This proposed merger embodies a strategic alliance that will harness the strengths of both banks, establishing a prominent financial entity within the industry, with a presence in retail, corporate, commercial, and digital banking sectors.
About Unity Bank Plc
Unity Bank Plc, with a legacy spanning over 18 years, has built a strong retail banking network consisting of more than 220 branches across the nation. With a specialized focus on the agricultural sector, our dedication to providing outstanding customer service and a diverse array of financial products has garnered the trust and loyalty of millions of clients.
About Providus Bank Limited
Conversely, Providus Bank Limited is distinguished for its innovative banking practices, featuring a robust digital presence, cutting-edge products, a commitment to high-quality service, and a strong emphasis on customer growth. As a rapidly expanding new-generation bank, Providus Bank has continually advanced technological boundaries to offer state-of-the-art financial solutions that meet the changing demands of contemporary consumers.
About the Proposed ProvidusBank and Unity Bank Merger
This proposed merger is motivated by a common vision to deliver an exceptional banking experience to our clientele. By merging Unity Bank’s extensive branch network and established customer relationships with Providus’s digital capabilities and innovative approach, we aspire to provide a harmonious integration of traditional and modern banking services.
Our customers will enjoy an expanded range of products and services, enhanced convenience, and improved access to banking solutions through various channels. The unification of our digital platforms will ensure heightened security, expedited transactions, and a more tailored banking experience.
As we commence this collaborative endeavor, we are steadfast in our dedication to upholding the highest standards of corporate governance, ensuring financial stability, and enhancing customer satisfaction. Our cohesive team of committed professionals will diligently strive to facilitate a seamless transition while preserving our tradition of excellence across all operations.
This partnership marks the onset of a new chapter in our collective journey, brimming with promise and potential. We are assured that the combined capabilities of both organizations will forge a powerful entity within the banking industry, fostering innovation, growth, and prosperity for our customers, employees, and stakeholders.
We express our sincere appreciation to the Central Bank of Nigeria for their thoughtful consideration and approval, as well as to our customers, employees, and partners for their steadfast support.
Completing the Proposed Providus Bank and Unity Bank Merger
According to the joint press release by the management of both banks, completing the proposed Providus Bank and Unity Bank merger is subject to the final approvals of the Boards of directors and respective shareholders of each of the banks, and, approvals by relevant regulatory authorities.
