…Expand nationwide presence
By Seun Ibiyemi
Union Bank of Nigeria, one of the country’s longest-established financial institutions, has successfully completed its merger with Titan Trust Bank Limited following final approval from the Central Bank of Nigeria (CBN).
Olufunmilola Aluko, Head of Brand and Marketing, said the milestone concludes a process that began with the signing of a Share Sale Agreement in 2021 and positions Union Bank as a stronger player within Nigeria’s financial services sector.
Under the merger terms, Union Bank has fully absorbed Titan Trust Bank’s operations and assets. The combined institution will continue under the Union Bank brand, while Titan Trust Bank will cease to exist as a separate entity.
With an expanded network of over 293 service centres and 937 ATMs nationwide, supported by enhanced digital channels, Union Bank is set to deliver greater value across retail, SME, and corporate segments.
The merger combines Union Bank’s trusted heritage with Titan Trust’s agility and innovative approach, creating a platform for sustainable growth and broader financial inclusion.
Union Bank Managing Director and Chief Executive Officer, 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.”
Chairman of the Board, Bayo Adeleke, added, “This marks a new era of growth, collaboration, and shared prosperity. By uniting 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 services will continue without disruption. Account details remain unchanged, and clients can access the full range of products seamlessly, alongside an accelerated focus on enhanced digital solutions.
This strategic consolidation strengthens Union Bank’s market position, unlocks operational synergies, and underscores its ambition to provide a modern, robust, and inclusive banking experience for all Nigerians.