Union Bank of Nigeria has formally completed its merger with Titan Trust Bank Limited, following the final approval from the Central Bank of Nigeria (CBN).
This development marks the end of a multi-year integration process that began in 2021 with the signing of a Share Sale Agreement.
Under the merger, Union Bank has fully absorbed Titan Trust’s operations and assets. Titan Trust Bank will cease to operate as a separate entity, according to this report, while the unified institution continues to deliver services under the Union Bank brand.
With the expanded footprint, Union Bank now boasts over 293 service centres, 937 ATMs, and enhanced digital platforms, positioning itself to better serve retail, SME, and corporate clients across Nigeria.
Mrs. Yetunde Oni, Managing Director and CEO of Union Bank, described the merger as “a pivotal moment in our 108-year journey, and a launchpad for delivering greater value to our customers.”
She emphasized that the integration of stability with innovation will better position the bank as a trusted financial partner for Nigerians.
Mr. Bayo Adeleke, chairman of the Board, added that the merger ushers in a new era of growth, collaboration, and shared prosperity, reinforcing the institution’s commitment to advancing financial inclusion throughout the country.
Union Bank reassured customers that there will be no disruption to existing services, account details remain unchanged, and users can continue accessing services seamlessly. The bank is also fast-tracking enhancements to its digital delivery channels.
Why This Matters:
- Strengthens Union Bank’s presence with an enlarged service network and digital capabilities.
- Combines the legacy and trust of Union Bank with Titan Trust’s agility to foster sustainable growth.
- Bolsters Nigeria’s financial inclusion efforts by expanding access to modern banking services nationwide.
