Unity Bank plc: Difference between revisions

Revision as of 14:58, 15 August 2024

Latest revision as of 01:59, 7 August 2025

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{{Short description|Building in Nigeria}}

{{Infobox company

| name = Unity Bank plc<!--preferred lowercase per MOS:ABBR-->

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| revenue = {{Profit}}Aftertax:US$38.7 million (NGN:6.2 billion) (2012)

| assets = US$2.45 billion (NGN:396 billion) (2012)

| num_employees = 2,072 (2012)<ref>[http://www.unitybankng.com/formdownloads/Annual%20report%202012.pdf Number of Employees Under Bank's Direct Employment In 2012]{{Dead link|date=August 2025 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

| homepage = [http://www.unitybankng.com/ Homepage]

}}

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==Overview==

Unity Bank is a largemid 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.<ref>[http://www.unitybankng.com/unityselector.php?action=about Overview of Unity Bank Plc.]</ref> {{asof|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).<ref>[http://www.unitybankng.com/formdownloads/Annual%20report%202012.pdf Audited December 2012 Financial Report]{{Dead link|date=August 2025 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

Unity Bank recorded consistent growth in its gross earnings between 2011 and 2017<ref>{{Cite web |title=Unity Bank Plc's gross earnings recorded consistent growth between 2011 and 2017 - Intelpoint |url=https://intelpoint.co/insights/unity-bank-plcs-gross-earnings-recorded-consistent-growth-between-2011-and-2017/ |access-date=2024-08-15 |language=en-GB}}</ref>. Despite the recorded growth between 2011 and 2017, the bank recorded ₦9.17 billion<ref>{{Cite web |title=Unity Bank Plc recorded more losses in value than profit over a 12-year window - Intelpoint |url=https://intelpoint.co/insights/unity-bank-plc-recorded-more-losses-in-value-than-profit-over-a-12-year-window/ |access-date=2024-08-15 |language=en-GB}}</ref> more losses between 2011 and 2022.

==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.<ref>[http://www.unitybankng.com/unityselector.php?action=about Unity Bank Was Formed in 2006]</ref> In 2024, [[Central Bank of Nigeria|The Central Bank of Nigeria]] approved the merger of Unity Bank with [[Providus Bank Limited|Providus Bank]].<ref>{{Cite web |last=Aderounmu |first=Zainab |date=2024-08-13 |title=10 things to know about the Providus-Unity Bank merger |url=https://businessday.ng/news/article/10-things-to-know-about-the-providus-unity-bank-merger/ |access-date=2024-08-16 |website=Businessday NG |language=en-US}}</ref><ref>{{Cite web |date=2024-08-15 |title=Unity Bank-Providus Bank merger: CBN must close watch on our banks - Daily Trust |url=https://dailytrust.com/unity-bank-providus-bank-merger-cbn-must-close-watch-on-our-banks/ |access-date=2024-08-16 |website=dailytrust.com/ |language=en-US}}</ref>

==Unity Bank Group==

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* Unity Bank BDC

* Hexali Properties Limited

NB; most of the subsidiaries has been sold.

==Ownership==