Union Bank of Nigeria, one of the country’s oldest financial institutions, has officially finalized its merger with Titan Trust Bank Limited after receiving approval from the Central Bank of Nigeria (CBN).
The merger began with a Share Sale Agreement in 2021 and now strengthens Union Bank’s position in Nigeria’s financial sector. As a result, Titan Trust Bank’s operations and assets are fully integrated. Consequently, the combined bank will operate under the Union Bank brand, while Titan Trust Bank will no longer exist as a separate entity.
Expanded Services and Nationwide Reach
Union Bank now operates over 293 branches and 937 ATMs across Nigeria. Moreover, its upgraded digital channels will help deliver improved services to retail, SME, and corporate clients. By combining Union Bank’s experience with Titan Trust Bank’s innovation, the merger aims to drive growth and enhance financial inclusion.
Leadership Comments on the Merger
Union Bank’s CEO, Mrs. Yetunde Oni, said, “This merger marks a pivotal moment in our 108-year history. By combining stability with innovation, we can meet Nigerians’ evolving needs and remain their trusted financial partner.”
Additionally, Chairman Mr. Bayo Adeleke stated, “This merger begins a new era of growth and collaboration. Together, we will create lasting value for customers, shareholders, and communities while advancing financial inclusion.”
Seamless Experience for Customers
The bank reassures clients that services will continue without interruption. Furthermore, account details remain unchanged, and all products and services remain fully accessible. Union Bank also plans to expand its digital offerings for greater convenience and faster service.
Strategic Benefits of the Merger
Overall, this consolidation strengthens Union Bank’s market position, unlocks operational efficiencies, and underscores its commitment to delivering a modern, inclusive, and robust banking experience across Nigeria.
