Nigeria’s banking sector has entered a new chapter as Providus Bank and Unity Bank officially begin operations as a single institution following the completion of their merger.

The launch of ProvidusUnity Bank comes after the combined lender secured all required regulatory approvals, shareholder consent and court sanctions, clearing the way for the integration of both institutions.

The merger reflects broader efforts by Nigerian regulators to build stronger, better-capitalized banks that can support businesses, expand access to financial services and strengthen confidence in the country’s banking system.

By combining Providus Bank’s digital banking expertise with Unity Bank’s nationwide branch network, the new institution is expected to broaden its reach across retail, small business and corporate banking while improving access to modern financial services.

The bank said customers will continue to enjoy uninterrupted services as integration progresses, with new products, improved technology and expanded banking channels expected to roll out in phases.

Stronger bank to support economic growth

In a statement released on Sunday, ProvidusUnity Bank said the merger creates a stronger institution with the capacity to mobilize investment, increase lending to businesses and support Nigeria’s long-term economic development.

The bank said the combination strengthens its ability to serve individuals, small and medium-sized enterprises, corporate customers and communities across the country.

The lender also thanked the Central Bank of Nigeria for its support throughout the transaction, saying the regulator played a key role in facilitating the successful completion of the merger. It also acknowledged the support of shareholders, customers, employees and other stakeholders.

Providus Bank is known for its technology-driven banking services and customer-focused approach, while Unity Bank has built a strong presence across Nigeria through its extensive branch network and focus on agriculture, retail and SME banking.

Together, ProvidusUnity Bank aims to combine these strengths to expand financial inclusion and support sustainable economic growth.