Union Bank Completes Merger With Titan Trust Bank – Independent Newspaper Nigeria

1

Union Bank of Nigeria, one of the nation’s lon­gest-standing financial in­stitutions, has announced the successful completion of its merger with Titan Trust Bank Limited, follow­ing final approval from the Central Bank of Nigeria (CBN).

This milestone, accord­ing to a statement from the bank’s Chief Brand and Marketing Officer, Mrs. Olufunmilayo Aluko, con­cludes a process that began with the signing of a Share Sale Agreement in 2021 and positions Union Bank as an even stronger force within Nigeria’s financial services sector. Under the terms of the merger, Union Bank has fully absorbed Titan Trust Bank’s operations and assets. The combined institution will continue to operate under the Union Bank brand, while Titan Trust Bank ceases to exist as a separate entity.

With an expanded foot­print of over 293 service centres and 937 ATMs na­tionwide, supported by strengthened digital chan­nels, Union Bank is poised to deliver enhanced value across retail, SME, and corporate segments. The merger combines Union Bank’s trusted heritage with Titan Trust’s agility and innovation, creating a platform for sustainable growth and broader finan­cial inclusion.

Union Bank’s Managing Director and Chief Execu­tive Officer, Mrs. Yetunde Oni, described the develop­ment as “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.”

Also speaking on the transaction, Chairman of the Board of Directors, Mr. Bayo Adeleke, said: “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.”

The bank has assured customers that there will be no disruption to existing services. Account details remain unchanged, and customers will continue to access a full suite of prod­ucts and services seamless­ly, with an accelerated push towards enhanced digital solutions.

This strategic consoli­dation strengthens Union Bank’s market position, unlocks operational syn­ergies, and underscores its ambition to deliver a mod­ern, robust, and inclusive banking experience for all.