Unity Bank plc

Unity Bank plc

Company type	Public: NSE: UNITYBNK
Industry	Financial services
Founded	2006
Headquarters	Victoria Island, Lagos, Nigeria
Key people	Thomas Ethuh Chairman Tomi Somefun Managing Director
Products	Loans, Credit Cards, Savings, Investments, Mortgages
Revenue	Aftertax:US$38.7 million (NGN:6.2 billion) (2012)
Total assets	US$2.45 billion (NGN:396 billion) (2012)
Number of employees	2,072 (2012)[1]
Website	Homepage

Unity Bank, also known as Unity Bank plc, is a commercial bank in Nigeria.[2]

Overview

Unity Bank is a large financial services provider in Nigeria. Headquartered in Lagos, Nigeria's commercial capital. Unity Bank also maintains an operations base in Abuja, Nigeria's capital.[3] As of December 2012^[update], 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).[4]

History

In January 2006, nine financial institutions with expertise in corporate banking, retail banking, as well as investment banking, came together to form Unity Bank plc.[5] In 2024, The Central Bank of Nigeria approved the merger of Unity Bank with Providus Bank.[6][7]

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:[8]

• 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

Ownership

The shares of stock 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.[9]

Branch network

As of December 2010,^[update] 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.[10]

See also

• List of banks in Nigeria
• Economy of Nigeria

References

1. Number of Employees Under Bank's Direct Employment In 2012
2. "Central Bank of Nigeria | Commercial Banks". www.cenbank.org. Retrieved 2017-08-29.
3. Overview of Unity Bank Plc.
4. Audited December 2012 Financial Report
5. Unity Bank Was Formed in 2006
6. Aderounmu, Zainab (2024-08-13). "10 things to know about the Providus-Unity Bank merger". Businessday NG. Retrieved 2024-08-16.
7. "Unity Bank-Providus Bank merger: CBN must close watch on our banks - Daily Trust". dailytrust.com/. 2024-08-15. Retrieved 2024-08-16.
8. Member Companies of the Unity Bank Group
9. "Unity Bank plc - UNITYBNK: stock quote, company profile & share news". www.moneyhub.net. Retrieved 2017-08-29.
10. Branches of Unity Bank Plc

External links

• Homepage of Unity Bank Nigeria
• Website of Central Bank of Nigeria