BY NONYE MOSES
ProvidusUnity Bank has unveiled its strategic direction following the completion of its merger with Unity Bank, outlining plans to strengthen customer service, deepen support for businesses, expand financial inclusion and build a sustainable institution positioned for long-term growth.
Speaking during a media engagement with journalists at the Lagos Marriott Hotel, Ikeja GRA, Lagos, Managing Director and Chief Executive Officer of ProvidusUnity Bank, Walter Akpani, said the merger was the culmination of a journey that began about four years ago and was conceived as part of broader efforts to strengthen Nigeria’s financial system while preserving institutional value.
Akpani explained that the transaction should not be viewed simply as a corporate acquisition but as a long-term strategic intervention aimed at creating a stronger banking institution capable of supporting businesses across critical sectors of the economy. He said the merger was driven by the need to build a resilient financial institution that would contribute meaningfully to economic development while supporting stability within the banking system.
Addressing questions on the decision to adopt the ProvidusUnity Bank name, Akpani said the combined identity reflects the value inherent in both legacy institutions.
While acknowledging Unity Bank’s financial challenges prior to the merger, he noted that the institution retained significant strategic assets, including its nationwide branch network, longstanding customer relationships and established presence across Nigeria, making it important to preserve that legacy within the new organisation.
He dismissed suggestions that retaining the Unity name would weaken the Providus brand, maintaining instead that the merger was designed to combine the strengths of both institutions into a stronger and more competitive bank.
Akpani said the enlarged institution would leverage its expanded branch network to deepen customer access to financial services across the country.
He noted that a number of branches inherited through the merger had become underutilised because of previous financial constraints, adding that the bank intends to revitalise them as part of its long-term expansion strategy.
He also said ProvidusUnity Bank would continue strengthening its capital position to improve its capacity to finance businesses and support economic growth, describing recapitalisation as an important component of the institution’s long-term strategy.
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