Providus Bank has announced that it has received final court sanction for its merger with Unity Bank, clearing the way for the integration of the two lenders into a single institution under the name ProvidusUnity Bank.
In a notice to customers on Thursday, the bank said the merger marks a significant milestone in its transformation strategy and is aimed at creating a stronger financial institution capable of delivering improved services, expanded access and enhanced digital banking solutions.
“The business combination is set to create a strong institution with broader national reach, deeper capabilities and an even greater commitment to delivering exceptional banking experiences,” the bank said.
The announcement follows months of regulatory and legal processes surrounding the combination of the two banks, with the court’s approval representing the final legal hurdle before full integration begins.
ProvidusBank assured customers that their banking relationships would remain secure and uninterrupted throughout the transition period, adding that existing banking channels, including access to accounts and services, would continue to operate as normal.
Customers are also expected to benefit from expanded service channels, improved technology infrastructure, stronger digital capabilities and a wider range of financial products as the integration progresses.
The lender said any actions required from customers as part of the integration process would be communicated clearly and well in advance.
“This merger represents an important milestone in our journey and positions us to serve you better through expanded access, enhanced technology infrastructure, improved digital capabilities, improved product offerings and a wider network of service channels across Nigeria,” the bank said.
For ProvidusBank and Unity Bank, the combination is expected to create a larger institution with stronger operational capacity, broader geographical coverage and greater ability to compete across retail, commercial and digital banking segments.
The bank said it would continue to keep customers informed as integration plans progress, reiterating its commitment to maintaining service standards throughout the transition.