Union Bank of Nigeria has finalized its merger with Titan Trust Bank Limited, following the Central Bank of Nigeria’s approval, marking a significant milestone in the institution’s 108-year history.
The consolidation, which began with the signing of a Share Sale Agreement in 2021, sees Union Bank fully absorb Titan Trust’s operations and assets. The combined entity will operate under the Union Bank brand, while Titan Trust ceases to exist as a standalone institution.
Speaking on the development, Union Bank’s Chief Brand and Marketing Officer, Mrs. Olufunmilola Aluko, said the merger positions the bank as a stronger player in Nigeria’s financial services industry. “With an expanded footprint of over 293 service centres and 937 ATMs nationwide, supported by strengthened digital channels, Union Bank is poised to deliver enhanced value across retail, SME, and corporate segments. The merger combines Union Bank’s trusted heritage with Titan Trust’s agility and innovation, creating a platform for sustainable growth and broader financial inclusion,” she stated.
Managing Director/Chief Executive Officer, Mrs. Yetunde Oni, described the move as a “pivotal moment” in the bank’s journey. “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.
Echoing this, Chairman of the Board, Mr. Bayo Adeleke, highlighted the strategic importance of the merger: “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.”
Union Bank assured customers that services will remain uninterrupted, with account details unchanged and access to the full suite of products and services guaranteed. The lender also reaffirmed its commitment to accelerating digital innovation for a seamless customer experience.
The merger, which the bank framed in customer communications as “a stronger union,” underscores Union Bank’s ambition to strengthen its market position, unlock operational synergies, and deliver a modern, robust, and inclusive banking experience for Nigerians.
