Union Bank of Nigeria, one of the country’s oldest financial institutions, has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
The landmark deal, which began with a Share Sale Agreement in 2021, officially positions Union Bank as a stronger force in the nation’s financial services sector. Under the terms, Titan Trust Bank’s operations and assets have been fully absorbed into Union Bank, while the Union Bank brand will continue as the surviving entity.
With a widened network of over 293 branches and 937 ATMs nationwide, complemented by strengthened digital platforms, the bank said it is now better placed to deliver enhanced services across retail, SME, and corporate banking segments.
Speaking on the development, Union Bank’s Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, described the merger as a defining moment in the bank’s 108-year history.
“This is a pivotal moment in our 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.
The Chairman of the Board of Directors Mr. Bayo Adeleke, also hailed the merger as a new chapter for the institution.
“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,” he said.
Union Bank further assured customers that account details remain unchanged and services will continue without disruption. It emphasized that the integration would accelerate its drive toward modern, customer-focused digital solutions.
Industry watchers say the consolidation not only reinforces Union Bank’s market standing but also sets the stage for greater operational efficiency and long-term growth.