Union Bank of Nigeria on Monday announced the successful completion of its merger with Titan Trust Bank Limited, following the final approval granted by the Central Bank of Nigeria (CBN).
The consolidation marks the end of a process that began in 2021 with the signing of a Share Sale Agreement and positions Union Bank as a stronger player in Nigeria’s financial services industry.
Under the terms of the transaction, Union Bank has fully absorbed Titan Trust Bank’s assets and operations. The new entity will continue under the Union Bank brand, while Titan Trust ceases to exist as a separate institution.
With an expanded network of more than 293 service centres and 937 ATMs across the country — complemented by strengthened digital platforms — Union Bank says it is poised to provide greater value to retail, SME, and corporate customers.
“This is a new era of growth, collaboration, and shared prosperity,” said Bayo Adeleke, Chairman of the Board of Directors. “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.”
Managing Director and Chief Executive Officer Yetunde Oni described the merger 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.”
The bank assured customers there will be no disruption to services, with account details remaining unchanged. It pledged a seamless integration of offerings while accelerating its push toward enhanced digital banking solutions.
