The merger between Providus Bank and Unity Bank has entered the integration phase following the completion of all legal and regulatory requirements, setting the stage for the emergence of ProvidusUnity Bank Limited.
The merger between the two banks had recently been sanctioned by the court clearing the last hurdle for the combination of both financial institutions and paving the way for the full rollout of the merged entity.
Industry sources familiar with the process disclosed that the merger itself had been substantially concluded earlier, with current activities focused on post merger integration aimed at harmonising operations, technology platforms and service delivery structures across the two institutions.
Providus Bank in a statement to customers formally notified them of the announced the successful completion of the legal process backing the merger and assured them that banking operations would remain seamless throughout the integration period.
“We are pleased to announce the final court sanction of the merger between ProvidusBank and Unity Bank. This 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 to you,” the bank stated.
According to the bank, the merger marks a significant milestone that will strengthen its capacity to serve customers through improved access to banking services, enhanced technology infrastructure, stronger digital capabilities and expanded product offerings.
“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.
Providus Bank also assured customers that the transition would not affect their banking relationship, stressing that all accounts and existing service channels would remain fully operational during the integration process.
“Your banking relationship remains secure and uninterrupted,” the bank assured customers, adding that they would continue to enjoy access to their accounts and banking services through existing channels while integration activities progress.
The bank further noted that customers should expect improved service delivery arising from the merger, supported by stronger capabilities and a wider operational footprint across the country. It added that any actions required from customers during the transition would be communicated clearly and in advance.
Highlighting the strategic importance of the combination, the bank said the next phase of its evolution is geared towards building a stronger institution capable of supporting economic growth while maintaining high service standards.
“This next chapter reflects our commitment to building a stronger institution for customers, supporting economic growth and continuing to deliver the service standards you expect from us,” it stated.
