Providus, Unity banks complete merger, unveil new identity

Providus Bank and Unity Bank have officially merged and are now operating under a new name, ProvidusUnity Bank.

As part of the merger, both banks have started updating their social media accounts to reflect the new brand identity.

In a statement, the bank said the merger combines Providus Bank’s innovative and customer-focused services with Unity Bank’s extensive network and market experience. According to the bank, this will create a stronger financial institution capable of serving individuals, businesses, and communities more effectively across Nigeria.

The bank assured customers that banking services will continue without interruption during the integration process. Customers are also expected to benefit from improved services, while employees will have greater opportunities for career growth and development.

ProvidusUnity Bank said it remains committed to responsible growth, effective execution of its plans, and creating long-term value for customers and stakeholders.

Reacting to the development, President of the Bank Customers Association of Nigeria, Professor Uju Ogubunka, described the merger as a positive step. He said the move helped prevent the possibility of bank failures, which could have resulted in the loss of customer deposits, disruption of credit facilities, and negative effects on the economy.

The merger comes shortly after the Central Bank of Nigeria (CBN) revoked the licences of 46 microfinance banks for failing to meet regulatory requirements, including inadequate capital and prolonged inactivity.

According to the CBN, the action took effect on July 1, 2026, following approval by Governor Olayemi Cardoso.