Union Bank Completes Merger with Titan Trust To Strengthen Market Position
Union Bank of Nigeria, one of the country’s oldest financial institutions, has finalised its merger with Titan Trust Bank Limited, following approval from the Central Bank of Nigeria (CBN).
This move concludes a process that began with a Share Sale Agreement in 2021, enabling Union Bank to absorb Titan Trust Bank’s operations and assets. The merged institution will retain the Union Bank brand, while Titan Trust ceases to exist as a separate entity.
With the integration, Union Bank now boasts a network of 293 branches and 937 ATMs nationwide, complemented by upgraded digital platforms. The bank says this positions it to serve retail, SME, and corporate customers more effectively.
Union Bank’s CEO, Mrs. 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.”
Board Chairman, Mr. Bayo Adeleke, emphasised the long-term vision: “This 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.”
The bank assured customers that their account details remain unchanged, with uninterrupted access to services and an accelerated rollout of digital solutions.
Industry analysts note that the merger not only consolidates Union Bank’s position but also strengthens competition in Nigeria’s banking sector by combining heritage, scale, and innovation.
