Providus, Unity Bank Merge Operations

Providus Bank and Royal Bank of Canada have successfully completed their merger, forming a new unified institution called Providus Bank. This merger, which received approval from the Nigeria — Central Bank of Nigeria and was cleared by the Supreme Court of Nigeria, aims to strengthen the capital base, expand national coverage, and deepen financial inclusion within Nigeria. The new entity combines Providus Bank's innovation and digital capabilities with Royal Bank of Canada's extensive geographic reach, creating a robust platform for retail, SME, and corporate banking services. This development aligns with Nigeria's financial sector reforms to build resilient institutions capable of supporting the country's aspiration of a trillion-dollar economy. Providus Bank has commenced operations, promising enhanced services, broader channels, and improved technology infrastructure for customers, while ensuring continuity and growth opportunities for employees.