LAGOS, NIGERIA – Union Bank of Nigeria, one of the country’s oldest and most trusted financial institutions, has officially completed its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
This landmark development concludes a process initiated in 2021 with the signing of a Share Sale Agreement. Under the terms of the merger, Titan Trust Bank has been fully absorbed into Union Bank, which will continue to operate under its existing brand while Titan Trust ceases to exist as a separate entity.
The combined bank now boasts over 293 service centres and 937 ATMs nationwide, supported by enhanced digital platforms. The merger brings together Union Bank’s 108-year legacy and Titan Trust’s innovation-driven approach, creating a stronger, more agile institution positioned for sustainable growth and broader financial inclusion.
“This marks a pivotal moment in our journey,” said Mrs. Yetunde Oni, Managing Director and Chief Executive Officer of Union Bank. “By uniting stability with innovation, we’re better equipped to meet the evolving needs of our customers and to be their most trusted financial partner.”
Mr. Bayo Adeleke, Chairman of the Board, added: “This merger ushers in a new era of growth, collaboration, and shared prosperity. We’re combining our strengths to deliver lasting value to customers, shareholders, and communities, while advancing financial inclusion across Nigeria.”
Union Bank has assured customers of uninterrupted services. Account details remain the same, and access to banking products and services continues seamlessly. The bank also reaffirmed its commitment to accelerating digital transformation.
This strategic consolidation strengthens Union Bank’s market position, unlocks operational synergies, and reinforces its vision of delivering a modern, resilient, and inclusive banking experience for all.