Providus Bank and Unity Bank have officially completed their merger and are now operating under a new name, ProvidusUnity Bank.
The development marks the formal integration of the two financial institutions as part of efforts to create a stronger banking entity with a wider reach and enhanced service delivery.
In a statement, the bank said the merger combines Providus Bank’s innovative, customer-focused services with Unity Bank’s extensive network and market experience, creating a stronger institution better positioned to serve individuals, businesses and communities across Nigeria.
As part of the transition, both banks have begun updating their social media platforms to reflect the new brand identity.
The bank assured customers that banking services would continue without interruption during the integration process, adding that customers would benefit from improved products and services. It also said the merger would create greater opportunities for employee career growth and development.
According to the statement, ProvidusUnity Bank remains committed to responsible growth, effective execution of its strategic plans and delivering long-term value to customers and other stakeholders.
Reacting to the merger, President of the Bank Customers Association of Nigeria (BCAN), Prof. Uju Ogubunka, described the development as a positive step for the banking industry.
He said the merger helped avert the risk of bank failures, which could have resulted in the loss of customers’ deposits, disruption of credit facilities and adverse consequences for the wider economy.
The merger comes days after the Central Bank of Nigeria (CBN) revoked the operating licences of 46 microfinance banks over their failure to meet regulatory requirements, including inadequate capital and prolonged inactivity.
The apex bank said the revocation took effect from July 1, 2026, following the approval of its Governor, Olayemi Cardoso.
