CBN Approves Merger Between Providus Bank and Unity Bank

The Central Bank of Nigeria (CBN) has given its approval for the merger between Providus Bank Limited and Unity Bank Plc. The proposed merger aims to create a leading financial institution in the industry, leveraging the strengths of both banks.

The combined entity will boast an extensive branch network of over 220 branches nationwide, a strong digital footprint, and a comprehensive range of financial products. Customers can expect an expanded suite of products and services, greater convenience, and improved access to banking solutions across various channels.

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The merger brings together Unity Bank’s rich legacy and robust retail banking network with Providus Bank’s innovative approach and digital prowess. The combined entity will offer enhanced security, faster transactions, and a more personalized banking experience.

The approval is subject to final approvals from the respective Boards, shareholders, and relevant regulatory authorities. The management of both banks has expressed gratitude to the CBN and stakeholders for their support, promising a smooth transition and continued excellence in operations.

This merger is expected to drive innovation, growth, and prosperity for customers, employees, and stakeholders, creating a formidable force in the banking sector.