Unity Bank, also known as Unity Bank plc, is a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

in Nigeria.

Overview

Unity Bank is a mid sized financial services provider in

Nigeria Nigeria, officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf of Guinea in the Atlantic Ocean to the south. It covers an area of . With Demographics of Nigeria, ...

. Headquartered in

Lagos Lagos ( ; ), or Lagos City, is a large metropolitan city in southwestern Nigeria. With an upper population estimated above 21 million dwellers, it is the largest city in Nigeria, the most populous urban area on the African continent, and on ...

, Nigeria's commercial capital. Unity Bank also maintains an operations base in

Abuja Abuja (; , ) is the capital city of the Federal Republic of Nigeria, strategically situated at the geographic midpoint of the country within the Federal Capital Territory (Nigeria), Federal Capital Territory (FCT). As the seat of the Federal G ...

, Nigeria's capital. , the bank's total assets were valued at about US$2.45 billion (NGN:396 billion), with shareholders' equity of approximately US$322 million (NGN:51.5 billion).

History

In January 2006, nine financial institutions with expertise in

corporate banking Wholesale banking is the provision of services by banks to larger customers or organizations such as mortgage brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, i ...

retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...

, as well as

investment banking Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by und ...

, came together to form Unity Bank plc. In 2024, The Central Bank of Nigeria approved the merger of Unity Bank with Providus Bank.

Unity Bank Group

Unity Bank plc, is the flagship institution of the Unity Bank Group. Other members of the financial services group include the following: * Unity Capital & Trust Limited * Caranda Management Services Limited * Unity Registrars Limited * Northlink Insurance Brokers Limited * Newdevco Investments & Securities Limited * UnityKapital Assurance plc * Pelican Prints Limited * Unity Bank BDC * Hexali Properties Limited NB; most of the subsidiaries has been sold.

Ownership

The shares of

stock Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

of Unity Bank plc are listed on the Nigerian Stock Exchange, where they trade under the symbol: UNITYBNK. The detailed shareholding in the bank is not publicly available at this time.

Branch network

Unity Bank plc maintained 242 branches across all states of Nigeria, giving it the 7th-largest branch network in the country. Another 25 branches were planned at that time.Branches of Unity Bank Plc
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References

External links

Homepage of Unity Bank NigeriaWebsite of Central Bank of Nigeria
{{Economy of Nigeria Banks of Nigeria Banks established in 2006