Union Bank Completes Merger with Titan Trust Bank

Union Bank Completes Merger with Titan Trust Bank

MD/CEO, Union Bank, Mrs. Yetunde Oni

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

The transaction, which began in 2021 with the signing of a Share Sale Agreement, has now resulted in the full absorption of Titan Trust Bank’s operations and assets into Union Bank. Under the new arrangement, the institution will continue to operate under the Union Bank brand, while Titan Trust ceases to exist as a separate entity.

With over 293 service centres, 937 ATMs nationwide, and enhanced digital platforms, the consolidated bank is positioning itself to deliver stronger value across retail, SME, and corporate segments. The merger is expected to leverage Union Bank’s long-standing heritage and Titan Trust’s innovative drive to boost financial inclusion and sustain growth in Nigeria’s banking sector.

Union Bank’s Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, described the merger as a significant milestone in the bank’s 108-year history. “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,” she said.

Chairman of the Board, Mr. Bayo Adeleke, also hailed the development as “a new era of growth, collaboration, and shared prosperity,” adding that the institution remains committed to creating long-term value for customers, shareholders, and communities while driving Nigeria’s financial inclusion agenda.

The bank assured customers that their account details remain unchanged and services will continue without disruption, even as it intensifies investment in digital banking solutions.

With this consolidation, Union Bank strengthens its market position and operational capacity, aiming to provide a more modern and inclusive banking experience nationwide.