Union Bank of Nigeria, one of the nation’s oldest and most respected financial institutions, has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
The milestone, which began with a Share Sale Agreement in 2021, cements Union Bank as a stronger player in Nigeria’s financial services sector. Under the terms, Union Bank has fully absorbed Titan Trust Bank’s operations and assets. The combined institution will continue to operate under the Union Bank brand, while Titan Trust Bank ceases to exist as a separate entity.
With an expanded network of 293 branches and 937 ATMs nationwide, supported by enhanced digital channels, Union Bank is now positioned to deliver greater value across retail, SME, and corporate banking segments. The merger blends Union Bank’s 108-year legacy of trust with Titan Trust’s agility and innovation, creating a platform for sustainable growth and financial inclusion.
Union Bank’s Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, described the development 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.”
Also speaking on the transaction, Chairman of the Board of Directors, Mr. Bayo Adeleke, said: “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 there will be no disruption to services. Account details remain unchanged, while customers will continue to enjoy seamless access to a full suite of products and services, with a stronger focus on digital banking.
This consolidation, the bank said, strengthens its market position, unlocks operational synergies, and reinforces its ambition to deliver a modern, robust, and inclusive banking experience for Nigerians.
