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Tag: Unity Bank

Banking

Supreme court clears Unity Bank, Providus merger

The Nigerian Supreme Court has approved the merger between Unity Bank and Providus Bank, removing the final legal hurdle to one of the most significant consolidations in the country’s banking industry. The decision effectively brings an end to a prolonged legal dispute that had stalled the plan to combine both institutions into a stronger and […]

Banking

Unity Bank confirms shareholders’ approval of Providus merger

Unity Bank Plc announced that its shareholders have approved a merger with Providus Bank Limited The approval was granted at a court-ordered general meeting held in Abeokuta on September 26, according to a statement issued on Monday by the company secretary, Alabi Williams. Under the arrangement, all assets, liabilities, and obligations of Unity Bank will […]

Banking

AMCON’s 34% stake not bought by Providus Bank – Unity Bank

Unity Bank Plc has announced that a current shareholder has acquired the 34 per cent equity stake formerly held by the Asset Management Corporation of Nigeria. In a statement on Saturday, the bank clarified that the stake, comprising over 4.004 billion shares—was bought by an existing investor, not by Providus Bank Limited, which is still […]

Banking featured

AMCON sells 34% stake in Unity Bank to Providus

The Asset Management Corporation of Nigeria has sold its 34 per cent equity stake in Unity Bank Plc to Providus Bank, marking a significant milestone in a long-awaited merger between the two financial institutions. The transaction was completed via a crossed deal involving 4 billion Unity Bank shares at N1.66 per share, amounting to over […]

Banking featured

Providus bank to take over Unity bank

Providus Bank is set to take over the corporate identity of Unity Bank, with Unity’s shareholders either receiving cash payments or being allotted shares in Providus. Under the approved scheme of merger, Providus Bank Limited’s certificate of incorporation will serve as that of the enlarged institution. The scheme also stipulates that Unity Bank’s entire share […]

featured

CBN endorse Providus Bank, Unity Bank merger

The Central Bank of Nigeria has granted the merger of Providus Bank and Unity Bank. This was disclosed in a statement signed by the acting Director, Corporate Communications, Hakama Sidi, on Tuesday, adding that the action is in line with the provisions of Section 42 (2) of the CBN Act, 2007. This is the first […]

Unity Bank, SkillPaddy partner, train 1,000 female software engineers
Banking

Unity Bank, SkillPaddy partner, train 1,000 female software engineers

Unity Bank Plc has partnered with tech platform, SkillPaddy, to train 1,000 female software engineers. The training, which was tagged ‘Count Her In’ tech programme, focused on empowering female beneficiaries with software engineering skills The Bank’s press release states that the IT skill development and empowerment initiative aims to bridge talent shortages and give individuals […]

Unity Bank's gross earnings hit N27.5bn in H1'2023
Banking

Unity Bank’s gross earnings hit N27.5bn in H1’2023

In its Half-Year unaudited financial statement submitted to the Nigeria Exchange Group Limited, retail lender Unity Bank Plc reported a growth in deposits to N333.38 billion, or 2% more than the N327.42 billion recorded in H1’22. The Times reported that the lender’s dedication to expanding its retail presence through a well-diversified banking product suite that serves […]

Unity Bank appoints Bashir, Obasanjo's daughter chairman, director
Appointments

Unity Bank appoints Bashir, Obasanjo’s daughter chairman, director

Mr. Hafiz Mohammed Bashir has been chosen by Unity Bank Plc as the board of directors acting chairman. The board also named Halima Babangida and Iyabo Obasanjo as non-executive directors. The appointments were made following the retirement of Mr. Aminu Babangida as Chairman of the Board of Directors and Dr. Oluwafunsho Obasanjo as Non-Executive Director, […]

Banking

Unity bank projects N10.8bn gross earnings Q3 2022

Unity Bank Plc has announced that it aims to achieve N10.890 billion in gross earnings for the third quarter of 2022. Nairametrics reports state that Unity bank, in its Q1 earnings forecast obtained from the Nigerian Exchange Limited (NGX), the bank also projects to rake in N7.204 billion in interest income. The lender projected a […]

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