Union Bank of Nigeria, one of the country’s oldest financial institutions, has officially merged with Titan Trust Bank Limited after receiving approval from the Central Bank of Nigeria (CBN). This milestone strengthens Union Bank’s position in Nigeria’s banking sector.
The merger process began in 2021 with the signing of a Share Sale Agreement. Under the deal, Union Bank absorbed all operations and assets of Titan Trust Bank. Going forward, the combined institution will operate solely under the Union Bank brand, while Titan Trust Bank will cease to exist independently.
Expanded Network and Enhanced Services
Union Bank now operates over 293 branches and 937 ATMs across Nigeria. In addition, the Bank has improved its digital channels, ensuring customers can access services more efficiently. By combining Union Bank’s heritage with Titan Trust’s innovative approach, the merger creates opportunities for growth and promotes wider financial inclusion.
Mrs. Yetunde Oni, Union Bank’s Managing Director and CEO, said, “This merger represents a pivotal milestone in our 108-year journey. By blending stability with innovation, we can meet the evolving needs of Nigerians and remain their most trusted financial partner.”
Similarly, Board Chairman Mr. Bayo Adeleke added, “This is a new era of growth and collaboration. By uniting the strengths of both banks, we aim to deliver lasting value to our customers, shareholders, and communities while advancing Nigeria’s financial inclusion goals.”
Seamless Transition for Customers
The Bank reassured clients that all services will continue without disruption. Account details remain unchanged, and customers will enjoy uninterrupted access to the full suite of products. Moreover, Union Bank plans to accelerate its digital banking solutions, making services faster and more convenient.
Overall, this strategic merger strengthens Union Bank’s market presence, unlocks operational efficiencies, and reinforces its commitment to delivering a modern, resilient, and inclusive banking experience across Nigeria.
