Customers have been assured of a smooth transition as one of Nigeria’s oldest banks, Union Bank of Nigeria, completed its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
It emphasised 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.
According to a statement from Union Bank’s Head of Brand and Marketing, Mrs Olufunmilola Aluko, the merger 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.
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,” stating, “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, the chairman of Union Bank, 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.”