By Chris Uche
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).
This is contained in a statement from the bank’s Chief Brand and Marketing Officer, Olufunmilayo Aluko.
She explained that the merger was the culmination of a process that began with the signing of a Share Sale Agreement in 2021.
Aluko said the development has now positioned 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,” she said.
Aluko added that the merger combined Union Bank’s trusted heritage with Titan Trust’s agility and innovation, creating a platform for sustainable growth and broader financial inclusion.
Also speaking on the transaction, Yetunde Oni, Union Bank’s Managing Director and Chief Executive Officer, described the development as “a pivotal moment in the bank’s 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,” she said.
Chairman of the Board of Directors, Bayo Adeleke, described the development as 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,” he said.
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.
