Union Bank of Nigeria has finalized its merger with Titan Trust Bank Ltd, securing final approval from the Central Bank of Nigeria (CBN), marking a significant milestone in the nation’s financial sector.
In a statement, Union Bank’s Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, announced the completion in Lagos, noting that the process began with a Share Sale Agreement in 2021.
“This milestone positions us as a formidable player in Nigeria’s financial services landscape,” Oni stated, emphasizing the bank’s strengthened capacity to serve diverse market segments.
The merger integrates Titan Trust Bank’s operations and assets fully into Union Bank, with the latter retaining its brand identity while Titan Trust ceases to operate independently.
The unified entity now boasts over 293 service centers and 937 ATMs across Nigeria, complemented by enhanced digital platforms to deliver superior value to retail, SME, and corporate clients.
Oni highlighted the synergy of Union Bank’s 108-year legacy with Titan Trust’s innovative approach, creating a robust platform for growth and financial inclusion.
“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, Mr. Bayo Adeleke, described the merger as “a new era of growth, collaboration, and shared prosperity.” He added, “By combining 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.”
Adeleke reassured customers that services will remain uninterrupted, with account details unchanged and access to a comprehensive range of products and services, bolstered by a focus on advanced digital solutions.
The merger enhances Union Bank’s market presence, drives operational efficiencies, and reinforces its commitment to delivering a modern, inclusive banking experience.
