Providus Bank and Unity Bank are set to begin operations as a single unified institution following the successful completion of their business combination and the fulfilment of all required regulatory, shareholder, and court approvals.

In a statement issued on Sunday, the bank said the newly established ProvidusUnity Bank will operate as a stronger, consolidated financial institution with enhanced capital strength, a broader nationwide footprint, and an increased capacity to drive financial inclusion and support Nigeria’s long-term economic growth.

The merger combines Providus Bank’s innovation-led, customer-focused approach and strong digital capabilities with Unity Bank’s extensive branch network and established market presence, creating a stronger platform to deliver retail, SME, and corporate banking services across Nigeria.

The combination also aligns with ongoing reforms in Nigeria’s banking sector aimed at enhancing the resilience of financial institutions, protecting depositor confidence, boosting competitiveness, and building stronger banks capable of supporting the country’s long-term economic transformation.

The bank expressed gratitude to the Central Bank of Nigeria for its support in facilitating the merger and reaffirmed its appreciation for the regulator’s commitment to strengthening the country’s banking sector. It also thanked its shareholders, customers, employees, and other stakeholders for their continued confidence and support throughout the process.

ProvidusUnity Bank said the merger is expected to strengthen the financial sector’s capacity to mobilise investment, support business growth, expand access to credit, and contribute to Nigeria’s ambition of building a one-trillion-dollar economy.

The bank added that customers will benefit from expanded access to financial services, enhanced service delivery, stronger technology infrastructure, broader banking channels, and a wider national presence aimed at delivering more efficient and consistent banking experiences.

The bank said customers will continue to enjoy uninterrupted banking services during the integration process, while gradually gaining access to enhanced products, expanded capabilities, and improved banking solutions over time.

For employees, ProvidusUnity Bank said the merger offers continuity, stability, and new opportunities for growth.

It reaffirmed its commitment to retaining talent, preserving institutional knowledge, and fostering career development within the newly combined organisation.