Providus Bank Limited
From Wikipedia, the free encyclopedia
 | |
| Company type | Private company |
|---|---|
| ProvidusBank | |
| Industry | Finance |
| Genre | Banking |
| Founded | June 15, 2016 |
| Headquarters | 724 Adetokunbo Ademola Street, Victoria Island, Lagos, Lagos State , |
Area served | Nigeria |
Key people | Alhaji Hussaini Dikko Chairman Walter Akpani Managing Director and Chief Executive Officer[1][2] |
| Services | Banking |
Number of employees | 400  |
| Website | providusbank |
ProvidusBank PLC (PB), is a Nigerian financial services provider, licensed as a commercial bank, by the Central Bank of Nigeria, the central bank and national banking regulator.[3][4]
The headquarters and main branch of this bank are located at 724 Adetokunbo Ademola Street, Victoria Island, Lagos, in the city of Lagos, the financial capital of Nigeria.[5] The geographical coordinates of the bank's headquarters are: 6°25'53.0"N, 3°25'50.0"E (Latitude:6.431389; Longitude:3.430556).[6]
Overview
As of November 2018, Providus Bank was registered as a regional commercial bank, serving clients in Lagos State and in the Nigerian Federal Capital Territory.[7] The bank aims to serve large corporations, government agencies, institutions, small and medium sized enterprises and high net worth individuals.[8]
History
The bank was granted a regional banking license by the Central Bank of Nigeria in June 2016.[3] In 2024, the Central Bank of Nigeria approved the merger between Unity Bank and Providus Bank, with a stipulation that the newly formed entity will receive a N700 billion loan from the CBN to support its operations.[9] The loan will be used to pay off Unity Bank’s N303.7 billion obligations, while the remaining N392.3 billion would be invested in a 20-year FGN bond and would qualify as tier-2 capital for the entity. This merger was the first merger in Nigeria since Access Bank and Diamond Back in 2019[10]
