Union Bank–Titan Trust Merger Completed, Management Projects Enhanced Market Strength

 Union Bank of Nigeria Plc, one of the country’s most enduring financial institutions, has formally completed its merger with Titan Trust Bank Limited after receiving final approval from the Central Bank of Nigeria (CBN).

The merger, which began with a Share Sale Agreement in 2021, marks a significant turning point in Nigeria’s banking landscape and reinforces Union Bank’s position as a major player in the financial services sector. Under the approved terms, Titan Trust Bank has been fully integrated into Union Bank, bringing an end to its independent operations while ensuring continuity under the Union Bank brand.

With the consolidation, Union Bank now boasts a stronger nationwide footprint comprising over 293 service centres and 937 ATMs, alongside a fortified digital infrastructure. The combined strengths of Union Bank’s 108-year heritage and Titan Trust’s innovative approach to banking are expected to accelerate financial inclusion, drive operational efficiency, and unlock new opportunities in retail, SME, and corporate banking.

Mrs. Yetunde Oni, Managing Director and Chief Executive Officer of Union Bank, described the milestone as “a pivotal moment in our journey. This merger blends Union Bank’s stability and heritage with Titan Trust Bank’s agility and modern solutions. Together, we are better equipped to meet the evolving needs of Nigerians and position ourselves as their most trusted financial partner.”

Chairman of Union Bank’s Board of Directors, Mr. Bayo Adeleke, emphasized the strategic importance of the deal, noting: “This is not just a merger—it is the beginning of a new era of growth and shared prosperity. By aligning the strengths of both banks, we are creating long-term value for our customers, shareholders, employees, and the wider Nigerian economy. We are deeply committed to advancing the financial inclusion agenda in line with national priorities.”

Union Bank has assured its customers of seamless banking services throughout the transition, stressing that account details remain unchanged and that all existing services will continue without interruption. The bank also highlighted its ongoing investments in digital banking platforms, promising enhanced customer experiences and more innovative financial solutions.

This consolidation signals Union Bank’s ambition to evolve into a stronger, more resilient, and inclusive institution, capable of navigating Nigeria’s dynamic financial environment while delivering robust value to stakeholders.