Unity Bank plc

Unity Bank plc
Company type
Public: NSE: UNITYBNK
IndustryFinancial services
Founded2006
HeadquartersVictoria Island, Lagos, Nigeria
Key people
Thomas Ethuh
Chairman
Tomi Somefun
Managing Director
ProductsLoans, Credit Cards, Savings, Investments, Mortgages
RevenueIncreaseAftertax:US$38.7 million (NGN:6.2 billion) (2012)
Total assetsUS$2.45 billion (NGN:396 billion) (2012)
Number of employees
2,072 (2012)[1]
WebsiteHomepage

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

Overview

Unity Bank is a mid sized 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, 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

NB; most of the subsidiaries has been sold.

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, 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

References

  1. ^ Number of Employees Under Bank's Direct Employment In 2012[permanent dead link]
  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[permanent dead link]
  5. ^ Unity Bank Was Formed in 2006
  6. ^ Aderounmu, Zainab (2024-08-13). "10 things to know about the Providus-Unity Bank merger". BusinessDay. Lagos, Nigeria. Retrieved 2024-08-16.
  7. ^ "Unity Bank-Providus Bank merger: CBN must close watch on our banks - Daily Trust". Daily Trust. 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

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