Union Bank of Nigeria has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
In a statement by the Chief Brand and Marketing Officer, Olufunmilayo Aluko, the bank noted that the merger concludes a process that began with the signing of a Share Sale Agreement in 2021. The move positions Union Bank as a stronger player in Nigeria’s financial services sector.
Under the terms of the merger, Titan Trust Bank has been fully absorbed into Union Bank, ceasing to exist as a separate entity. The combined institution will continue operations under the Union Bank brand. With an expanded footprint of over 293 service centres and 937 ATMs nationwide, alongside strengthened digital channels, Union Bank aims to deliver enhanced services across retail, SME, and corporate segments.
Chairman of the Board of Directors, Bayo Adeleke, described the development as a “new era of growth, collaboration, and shared prosperity,” stressing that the combined strength of both banks would advance Nigeria’s financial inclusion agenda.
Managing Director and Chief Executive Officer, Yetunde Oni, hailed the merger as “a pivotal moment in our 108-year journey” and a launchpad for greater customer value. According to her, the integration blends Union Bank’s stability with Titan Trust’s innovation to meet the evolving needs of Nigerians.
The bank assured customers that there would be no disruption to services. Account details remain unchanged, while customers will continue to access the full suite of products seamlessly, with an accelerated push towards improved digital solutions.
