Union Bank Completes Merger with Titan Trust Bank

Union Bank of Nigeria Plc has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).

In a statement issued in Lagos, the Managing Director/Chief Executive Officer of Union Bank, Mrs. Yetunde Oni, said the milestone marked the conclusion of a process that began with the signing of a Share Sale Agreement in 2021.

Oni noted that under the terms of the merger, Union Bank has fully absorbed Titan Trust Bank’s operations and assets, with the combined entity continuing under the Union Bank brand. Titan Trust Bank ceases to exist as a separate institution.

“With an expanded network of more than 293 service centres, 937 ATMs, and strengthened digital platforms, Union Bank is better positioned to deliver enhanced value to retail, SME, and corporate customers nationwide,” Oni said.

She described the consolidation as a pivotal moment in Union Bank’s 108-year history, combining the bank’s trusted legacy with Titan Trust’s agility and innovation.

“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 added.

Chairman of Union Bank’s Board of Directors, Mr. Bayo Adeleke, said the transaction ushers in 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 customers, shareholders, and communities, while advancing Nigeria’s financial inclusion agenda,” Adeleke said.

He assured customers of seamless service continuity, adding that account details remain unchanged while the merger will accelerate the bank’s digital transformation.

According to the bank, the strategic consolidation strengthens its market position, unlocks operational synergies, and underscores its ambition to deliver a modern, robust, and inclusive banking experience.