Merged Unity and Providus Banks, get Name

Abuja Head office of Unitybank plc

Union of Unity and Providus Banks has officially become Nigeria’s ninth-largest bank by assets, following their merger.

This strategic consolidation, approved overwhelmingly at a court-ordered Extraordinary General Meeting, has significantly expanded the merged banks footprint in the financial sector.

As of June 30, 2025, the newly combined institution reported ₦5.3 trillion in total assets and ₦3.2 trillion in customer deposits—ranking 9th and 11th in the industry, respectively. 

With a network of 229 branches and 3.6 million customers nationwide, the merger positions the new bank as a major player in Nigeria's banking landscape.

Both institutions expressed gratitude to the Central Bank of Nigeria (CBN) for facilitating the merger, calling it a pivotal move to reinforce the nation’s financial stability and boost investor trust.

“This merger is not just about scale—it reflects growing confidence in Nigeria’s banking industry,” the banks said in a joint statement. They emphasized that the new entity is well-positioned to support businesses, individuals, and government projects across the country.

The merged bank will operate as Providus-Unity Bank Limited, combining Providus’ innovative drive with Unity Bank’s longstanding service legacy. 

Shareholders approved several key resolutions, including capital increase, share exchange or cash settlement for Unity Bank shareholders, and updates to the Memorandum and Articles of Association.

Armed with stronger capital buffers, a wider branch network, and enhanced digital banking capabilities, the enlarged institution aims to play a crucial role in Nigeria’s aspiration to build a trillion-dollar economy.