Providus Bank Eyes Expansion Post-recapitalisation

Providus Bank Ltd. has outlined plans to expand operations after complying with the Central Bank of Nigeria’s (CBN) recapitalisation directive.

The bank said on Thursday it will increase its presence to support local enterprise, deepen financial inclusion, and bring banking services closer to individuals and businesses.

Having met the Central Bank of Nigeria’s (CBN) recapitalisation requirement since January 2025, Providus Bank is now focused on expanding its footprint

Speaking at the commissioning of its new branch in Ado-Ekiti, the executive director/chief financial officer, Deoye Ojuroye, noted that the expansion is part of the Bank’s plans to strengthen its nationwide presence over the next 12 months.

“Our approach is deliberate—we are growing in the right places, supporting real economic activity, and building a bank that is both resilient and responsive to the needs of our customers.”

He added that Providus Bank remains on a strong footing, with a disciplined approach to capital and risk management underpinning its growth.

“We are well capitalised within our regulatory category, and that gives us the confidence to continue expanding responsibly while supporting businesses and communities.”

The Bank plans to open additional branches in strategic locations over the coming year, reinforcing its commitment to scale, accessibility, and long-term value creation.

Providus Bank continues to position itself as a reliable partner to businesses and individuals, combining financial strength with a clear focus on sustainable growth.