Union Bank of Nigeria, one of the country’s oldest financial institutions, has completed its merger with Titan Trust Bank Limited after securing final approval from the Central Bank of Nigeria.
In a statement, the bank’s Head of Brand and Marketing, Mrs. Olufunmilola Aluko, said the merger—initiated with a Share Sale Agreement in 2021—strengthens Union Bank’s position in the financial services sector.
Under the deal, Union Bank has fully absorbed Titan Trust Bank’s operations and assets. The combined entity will continue under the Union Bank name, with Titan Trust Bank ceasing to exist as a separate institution.
With 293 service centres, 937 ATMs nationwide, and robust digital platforms, Union Bank is set to deliver greater value across retail, SME, and corporate segments. The merger unites Union Bank’s 108-year heritage with Titan Trust’s agility and innovation, creating a stronger platform for sustainable growth and wider financial inclusion.
Managing Director and CEO, Mrs. Yetunde Oni, called the merger “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 Nigerians’ evolving needs and remain 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.”
The Bank reassured customers that there will be no disruption to existing services. Account details remain unchanged, and customers will continue to enjoy seamless access to the full range of products and services, with a renewed focus on enhanced digital solutions.
This strategic consolidation reinforces Union Bank’s market position, unlocks operational synergies, and reflects its commitment to delivering a modern, robust, and inclusive banking experience for all.
