Providus Bank Limited and Unity Bank Plc have announced the commencement of their joint operations as a single entity, following the successful completion of their merger. This development was disclosed in a statement posted on Providus Bank’s official X handle on Friday, June 26, 2026.
The successful merger is expected to position the new institution to better serve customers, support businesses, and contribute meaningfully to Nigeria’s economic growth. This joint operation follows the Supreme Court's decision earlier in June 2026, which dismissed a suit challenging the consolidation of the two financial institutions.
The merger process initially began in August 2024, when the Central Bank of Nigeria (CBN) approved the proposed combination. At that time, the CBN stated that its intervention, backed by financial support arrangements, aimed to strengthen the financial system and reduce systemic risk.
The apex bank further explained that the merger was tied to financial assistance designed to help Unity Bank meet its obligations and ensure the stability of the post-merger institution. The newly formed ProvidusUnity Bank will combine the strengths of both former entities.
The bank noted that this represents more than the completion of a transaction; it is an opportunity to build a resilient, unified institution. ProvidusUnity Bank acknowledged the efforts of the CBN, the Securities and Exchange Commission (SEC), and other stakeholders throughout the merger process.
The institution expressed appreciation to the Central Bank of Nigeria for its guidance and support, which facilitated the business combination. It also commended the CBN for its commitment to strengthening the Nigerian financial system through policies promoting stability and long-term growth.
The bank also extended gratitude to the Securities and Exchange Commission, shareholders, customers, employees, and other stakeholders for their confidence, support, and patience. The Providus–Unity Bank combination brings together Providus Bank’s innovation, agility, and service culture.
It also leverages Unity Bank’s extensive reach, experience, and broad market access built over the years. These combined capabilities are expected to create a stronger platform with greater capacity to support individuals, businesses, and communities across Nigeria.
The bank stated that the merger would ensure stability and deliver an improved customer experience as integration activities continue. It added that the combination would also protect employees, recognize and reward excellence, and create opportunities for career growth and personal development.
ProvidusUnity Bank aims to play its part in supporting Nigeria’s ambition of building a larger, more productive, and globally competitive economy. Stronger financial institutions are seen as crucial for supporting investment, enabling enterprise, preserving confidence, and unlocking the nation's economic potential.
