Union Bank of Nigeria completes merger with Titan Trust Bank after CBN approval, creating a stronger entity with 293 branches, 937 ATMs, and enhanced digital banking solutions
Union Bank Seals Merger With Titan Trust Bank
Union Bank of Nigeria Plc has officially completed its long-awaited merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN). The consolidation marks a major milestone in the Nigerian banking sector and sets Union Bank on course to compete more aggressively across retail, SME, and corporate segments.
The transaction, which began in 2021 with the signing of a Share Sale Agreement, has now been fully executed. Under the arrangement, Union Bank has absorbed all of Titan Trust Bank’s assets and operations, while Titan Trust ceases to exist as a standalone entity.
With a combined network of 293 service centres and 937 ATMs nationwide, complemented by advanced digital platforms, Union Bank is reinforcing its position as one of Nigeria’s most formidable financial institutions.
Describing the development as transformational, Union Bank’s Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, said:
“This is a pivotal moment in our 108-year journey, and a launchpad for delivering greater value to our customers. By blending stability with innovation, we are better positioned to meet the evolving needs of Nigerians and to be their most trusted financial partner.”
The Chairman of the Board of Directors, Mr. Bayo Adeleke, echoed this optimism, stressing the broader vision of the consolidation.
“This is a new era of growth, collaboration, and shared prosperity. By bringing together the strengths of both institutions, we are committed to creating lasting value for our customers, shareholders, and communities while advancing Nigeria’s financial inclusion agenda.”
Union Bank assured its customers that all account details remain unchanged, with uninterrupted access to its full suite of products and services. The bank also pledged to fast-track the rollout of innovative digital solutions for a seamless and modern banking experience.
Industry analysts say the merger is a strategic move that will not only strengthen Union Bank’s market position but also unlock operational synergies, reinforcing its ambition to drive inclusive banking to millions of Nigerians. Read More
