Union Bank of Nigeria Plc, one of the nation’s oldest and most respected financial institutions, has officially completed its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
The landmark transaction, which began with a Share Sale Agreement in 2021, has successfully consolidated Titan Trust’s assets, operations, and customer base into Union Bank — with the 108-year-old financial giant emerging as the surviving entity.
In a statement issued by Union Bank’s Chief Brand and Marketing Officer, Mrs. Olufunmilayo Aluko, the bank hailed the merger as a “transformative milestone” that fuses Union Bank’s rich heritage and resilience with Titan Trust’s dynamism, agility, and cutting-edge innovation.
With the consolidation, Union Bank now commands a stronger market presence, boasting 293 service centres, 937 Automated Teller Machines (ATMs), and a significantly enhanced digital infrastructure designed to deliver seamless services to retail, SME, and corporate customers nationwide.
Speaking on the significance of the merger, Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, described it as a turning point in the bank’s history:
> “This is a pivotal moment in our 108-year journey — 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 become their most trusted financial partner,” Oni affirmed.
Echoing this sentiment, Chairman of the Board, Mr. Bayo Adeleke, described the consolidation as the dawn of a new era for Nigeria’s banking industry:
> “This is not just a merger; it is a bold step into a future of growth, collaboration, and shared prosperity. By harnessing the strengths of both institutions, we will create lasting value for customers, shareholders, and communities while advancing Nigeria’s financial inclusion agenda,” he stated.
Union Bank further assured customers that their account details and services remain unaffected, even as the bank intensifies its commitment to delivering innovative digital banking solutions tailored to Nigeria’s fast-evolving financial ecosystem.
With this merger, Union Bank has not only reaffirmed its place as a household name in Nigerian banking but also positioned itself as a forward-looking powerhouse, ready to compete in an increasingly digital and globally competitive financial landscape.
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