Unity Bank (Nigeria)
Encyclopedia
Unity Bank, also known as Unity Bank Plc., is a commercial bank
in Nigeria
.
, as well as investment banking
, came together to form Unity Bank Plc.
. As of February 2009, the bank was the seventh (7th) largest commercial bank
, by branch network, with 221 networked branches scattered in all parts of the country. Headquartered in Abuja
, Nigeria's capital city, Unity Bank also maintains an operations base on Victoria Island
, in Lagos
, Nigeria's commercial capital.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
.
History
In January 2006, nine (9) financial institutions with expertise in corporate banking, retail bankingRetail banking
Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth.-Types of...
, as well as investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
, came together to form Unity Bank Plc.
Overview
Unity Bank (Nigeria) is a large financial services provider in NigeriaNigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
. As of February 2009, the bank was the seventh (7th) largest commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
, by branch network, with 221 networked branches scattered in all parts of the country. Headquartered in Abuja
Abuja
Abuja is the capital city of Nigeria. It is located in the centre of Nigeria, within the Federal Capital Territory . Abuja is a planned city, and was built mainly in the 1980s. It officially became Nigeria's capital on 12 December 1991, replacing Lagos...
, Nigeria's capital city, Unity Bank also maintains an operations base on Victoria Island
Victoria Island
Victoria Island is an island in the Canadian Arctic Archipelago and straddles the boundary between Nunavut and the Northwest Territories of Canada. It is the eighth largest island in the world, and at is Canada's second largest island. It is nearly double the size of Newfoundland , and is...
, in Lagos
Lagos
Lagos is a port and the most populous conurbation in Nigeria. With a population of 7,937,932, it is currently the third most populous city in Africa after Cairo and Kinshasa, and currently estimated to be the second fastest growing city in Africa...
, Nigeria's commercial capital.
Unity Bank Group
Unity Bank Plc., is the flagship institution of the Unity Bank Group. Other members of the financial services group include:- 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