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Providus Bank Limited

Coordinates: 06°25′53″N 03°25′50″E / 6.43139°N 3.43056°E / 6.43139; 3.43056
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ProvidusBank PLC
Company typePrivate company
ProvidusBank
IndustryFinance
GenreBanking
FoundedJune 15, 2016; 8 years ago (2016-06-15)
Headquarters
724 Adetokunbo Ademola Street, Victoria Island, Lagos, Lagos State
,
Nigeria
Area served
Nigeria
Key people
Alhaji Hussaini Dikko
Chairman
Walter Akpani
Managing Director and Chief Executive Officer[1][2]
ServicesBanking
Number of employees
400 Edit this on Wikidata
Websiteprovidusbank.com

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]

Location

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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

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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

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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]

See also

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References

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  1. ^ Providus Bank (5 November 2018). "Providus Bank: About Us: Our Team: Board of Directors". Lagos: Providus Bank Limited. Retrieved 5 November 2018.
  2. ^ Okanlawon, Ajani (20 April 2017). "6 things to know about Walter Akpani, MD of Providus Bank". Lagos: Qed.ng. Retrieved 5 November 2018.
  3. ^ a b Obinna, Chima (15 June 2016). "CBN Grants Providus Bank Commercial Banking Licence". This Day. Lagos. Retrieved 5 November 2018.
  4. ^ Central Bank of Nigeria (5 November 2018). "Central Bank of Nigeria: List of Supervised Commercial Banks". Abuja: Central Bank of Nigeria. Retrieved 5 November 2018.
  5. ^ Omidire, Dolapo (29 April 2017). "Updated – Development: Providus Commercial Bank Headquarters, Victoria Island – Lagos". Lagos: Estateintel.com. Retrieved 5 November 2018.
  6. ^ "Location of the headquarters of Providus Bank Limited" (Map). Google Maps. Retrieved 5 November 2018.
  7. ^ Providus Bank (5 November 2018). "The Branch List of Providus Bank". Lagos: Providus Bank Limited. Retrieved 5 November 2018.
  8. ^ City People (1 July 2019). "Meet The Big Boys And Ladies Who Run Providus Bank". City People Online. Lagos. Retrieved 2 February 2020.
  9. ^ Aderounmu, Zainab (13 August 2024). "10 things to know about the Providus-Unity Bank merger". Businessday NG. Retrieved 20 September 2024.
  10. ^ Tijani, Mayowa (16 December 2018). "EXCLUSIVE: Access Bank acquires Diamond Bank". TheCable. Retrieved 20 September 2024.
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06°25′53″N 03°25′50″E / 6.43139°N 3.43056°E / 6.43139; 3.43056

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