Union Bank announces merger with Titan Trust Bank

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

A statement by Union Bank’s Managing Director and Chief Executive Officer, Mrs Yetunde Oni disclosed in Lagos.

According to Oni, this milestone concludes a process that began with the signing of a Share Sale Agreement in 2021.

She added that it repositioned the bank to become a stronger force within Nigeria’s financial services sector.
Under the terms of the merger, 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.

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.

Oni described the development as a pivotal moment in the bank’s 108-year journey and a launch-pad for delivering greater value to its 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,” she said.

Also speaking, Chairman of the Board of Directors, Mr Bayo Adeleke, said the transaction 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,” Adeleke said.

He assured customers that there would be no disruption to existing services.

He added that, account details remain unchanged and customers would continue to access a full suite of products and services seamlessly, with an accelerated push towards enhanced digital solutions.

He said that the strategic consolidation strengthens the bank’s market position, unlocks operational synergies and underscores its ambition to deliver a modern, robust and inclusive banking experience for all.