Union Bank of Nigeria, one of the country’s oldest and most respected financial institutions, has officially completed its merger with Titan Trust Bank Limited, marking a major milestone in Nigeria’s banking sector.
The announcement followed the final approval of the transaction by the Central Bank of Nigeria (CBN), bringing to a close a process that began in 2021 with the signing of a Share Sale Agreement.
In a statement, Union Bank’s Chief Brand and Marketing Officer, Mrs. Olufunmilayo Aluko, described the merger as a strategic move to consolidate the bank’s market position and strengthen its service delivery.
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Under the arrangement, Union Bank has fully absorbed Titan Trust Bank’s operations and assets. The combined entity will continue under the Union Bank brand, while Titan Trust ceases to exist as a separate institution.
With a network of over 293 service centres and 937 ATMs nationwide, supported by upgraded digital platforms, the bank said it is well-positioned to provide enhanced value across retail, SME, and corporate segments. The merger, according to the bank, combines Union Bank’s heritage with Titan Trust’s innovation to drive financial inclusion and sustainable growth.
Union Bank’s Managing Director and CEO, Mrs. Yetunde Oni, described the merger as “a pivotal moment in our 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.”
Chairman of the Board, Mr. Bayo Adeleke, added: “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.”
The bank assured customers that their accounts and services remain unaffected by the merger, with an accelerated rollout of improved digital solutions.
Union Bank said the consolidation not only strengthens its competitive edge but also underscores its ambition to deliver a modern, inclusive, and customer-focused banking experience.
