Union Bank of Nigeria Plc has officially completed its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
The deal, which began in 2021 with the signing of a Share Sale Agreement, has now resulted in the full integration of Titan Trust Bank’s assets and operations into Union Bank.
Under the new structure, the combined entity will continue to trade under the Union Bank brand, while Titan Trust Bank ceases to exist as a separate institution.
With more than 293 service centres, 937 ATMs across Nigeria, and enhanced digital banking platforms, Union Bank says the consolidation strengthens its ability to deliver greater value to retail, SME, and corporate customers nationwide.
The merger is designed to unite Union Bank’s 108-year heritage with Titan Trust’s innovative approach, driving financial inclusion and sustaining long-term growth in Nigeria’s banking sector.
Union Bank’s Managing Director and Chief Executive Officer, Yetunde Oni, described the transaction as a “significant milestone” in the lender’s history. She said, “This is 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.”
Also commenting, Chairman of the Board, Mr Bayo Adeleke, said the merger marks “a new era of growth, collaboration, and shared prosperity.” He added that the bank remains committed to creating long-term value for customers, shareholders, and communities while advancing Nigeria’s financial inclusion agenda.
Union Bank further assured customers that their account details remain unchanged and banking services will continue without disruption, even as the institution increases investment in digital solutions.
With this consolidation, Union Bank reinforces its market position, enhances operational capacity, and aims to deliver a more modern and inclusive banking experience nationwide.
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