The merger between Union Bank of Nigeria and Titan Trust Bank Limited has been concluded after securing approval from the Central Bank of Nigeria (CBN).
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.
The chief executive of Union Bank, 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.”
According to her, “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, the chairman of the board of Union Bank, Mr Bayo Adeleke, described it as “a new era of growth, collaboration, and shared prosperity.”
He noted that, “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 lender has assured customers that there would be no disruption to existing services, adding that 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, especially with an expanded footprint of over 293 service centres and 937 ATMs nationwide, supported by strengthened digital channels.
Union Bank believes these numbers will inspire it to deliver enhanced value across retail, SME, and corporate segments, as the merger combines its trusted heritage with Titan Trust Bank’s agility and innovation, creating a platform for sustainable growth and broader financial inclusion.
Recall that the process of the merger between the two organisations 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.