Union Bank completes merger with Titan Trust Bank

Union Bank of Nigeria has confirmed the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria.

The bank explained in a statement on Sunday that the process began with the signing of a Share Sale Agreement in 2021.

Under the arrangement, Union Bank has fully absorbed Titan Trust Bank’s operations and assets. The enlarged entity will retain the Union Bank brand, while Titan Trust Bank ceases to exist as a separate institution.

According to Mrs. Olufunmilayo Aluko, the bank’s Chief Brand and Marketing Officer, the integration strengthens Union Bank’s capacity within Nigeria’s financial services sector.

“With an 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, described the milestone 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 of Directors, 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.”

Union Bank assured customers there would be no disruption to existing services. Account details remain unchanged, and customers will continue to access a full suite of banking products seamlessly, with a stronger emphasis on digital solutions.

The bank noted that this consolidation strengthens its market position, unlocks operational efficiencies, and reflects its ambition to deliver a modern, robust, and inclusive banking experience.

Earlier, Union Bank had hinted at the transition in an email to customers titled ‘This Union is Evolving’, welcoming them to a “stronger union.”