One of Nigeria’s oldest banks, Union Bank of Nigeria (UBN) has announced it has successfully completed its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
According to a statement issued on Sunday and signed by the bank’s Chief Brand and Marketing Officer, Olufunmilayo Aluko, the merger process started in 2021 with the signing of Share Sale Agreement.
Under the merger terms, Union Bank has fully absorbed Titan Trust Bank’s operations and assets. The combined institution will continue to operate under the Union Bank brand, while Titan Trust Bank ceases to exist as a separate entity.
The bank stated that the merger now positions Union Bank as an even stronger force within Nigeria’s financial services sector.
According to the bank, the “expanded footprint of over 293 service centres and 937 ATMs nationwide, supported by strengthened digital channels, Union Bank is poised to deliver enhanced value across retail, SME, and corporate segments. The merger combines Union Bank’s trusted heritage with Titan Trust’s agility and innovation, creating a platform for sustainable growth and broader financial inclusion,” the statement disclosed
Union Bank’s Managing Director/Chief Executive Officer, Mrs. Yetunde Oni, said that said that is “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.”
In his response on the successful merger, the Chairman of the Board of Directors Union Bank, Bayo Adeleke, said, “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.”
Union Bank has assured customers that there will be no disruption to existing services, noting that account details remain unchanged, and customers will continue to access a full suite of products and services seamlessly, with an accelerated push towards enhanced digital solutions.
Titan Trust Bank was established in 2018 by a consortium of financial experts and experienced bankers including a former deputy governor of the Central Bank of Nigeria, Mr. Tunde Lemo.
