*Combination expands capacity to support Nigeria’s growth ambitions
ProvidusUnity Bank is set to commence operations as a single, unified institution following the successful completion of the business combination between Providus Bank and Unity Bank and the conclusion of all required regulatory, shareholder and judicial processes.The commencement of operations marks the creation of a strong, better-capitalised, and nationally scaled banking institution positioned to support customers more effectively, deepen financial inclusion, and contribute meaningfully to Nigeria’s long-term economic ambitions, it said in a statement.
ProvidusUnity Bank said it brings together the complementary strengths of Providus Bank’s innovation, customer-centric service culture, and digital capabilities, and Unity Bank’s broad geographic reach and established market presence to create a stronger platform with greater capacity to serve individuals, businesses, and communities across Nigeria.This milestone, according to the bank, aligns with the broad objectives of ongoing reforms within Nigeria’s financial sector aimed at strengthening institutional resilience, safeguarding depositor confidence, improving competitiveness and creating financial institutions capable of supporting economic transformation.
