Unity Bank, also known as Unity Bank plc, is a commercial bank in Nigeria.[2]
| 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 |
Overview
editUnity 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]
Unity Bank recorded consistent growth in its gross earnings between 2011 and 2017.[5] Despite the recorded growth between 2011 and 2017, the bank recorded ₦9.17 billion[6] more losses between 2011 and 2022.
History
editIn January 2006, nine financial institutions with expertise in corporate banking, retail banking, as well as investment banking, came together to form Unity Bank plc.[7] In 2024, The Central Bank of Nigera approved the merger of Unity Bank with Provdus Bank.[8][9]
Unity Bank Group
editUnity Bank plc, is the flagship institution of the Unity Bank Group. Other members of the financial services group include the following:[10]
- 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
editThe 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.[11]
Branch network
editAs 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.[12]
See also
edit
References
edit- ^ Number of Employees Under Bank's Direct Employment In 2012
- ^ "Central Bank of Nigeria | Commercial Banks". www.cenbank.org. Retrieved 2017-08-29.
- ^ Overview of Unity Bank Plc.
- ^ Audited December 2012 Financial Report
- ^ "Unity Bank Plc's gross earnings recorded consistent growth between 2011 and 2017 - Intelpoint". Retrieved 2024-08-15.
- ^ "Unity Bank Plc recorded more losses in value than profit over a 12-year window - Intelpoint". Retrieved 2024-08-15.
- ^ Unity Bank Was Formed in 2006
- ^ Aderounmu, Zainab (2024-08-13). "10 things to know about the Providus-Unity Bank merger". Businessday NG. Retrieved 2024-08-16.
- ^ "Unity Bank-Providus Bank merger: CBN must close watch on our banks - Daily Trust". dailytrust.com/. 2024-08-15. Retrieved 2024-08-16.
- ^ Member Companies of the Unity Bank Group
- ^ "Unity Bank plc - UNITYBNK: stock quote, company profile & share news". www.moneyhub.net. Retrieved 2017-08-29.
- ^ Branches of Unity Bank Plc