Union Bank of Nigeria Plc has completed its merger with Titan Trust Bank Limited following the final approval of the Central Bank of Nigeria. With the conclusion of this transaction, which began in 2021 with the signing of a Share Sale Agreement, Union Bank becomes the surviving entity, absorbing Titan Trust’s operations, assets, and liabilities.
Titan Trust Bank will no longer exist as a separate institution.
In a statement, Union Bank’s Chief Brand and Marketing Officer, Mrs. Olufunmilayo Aluko, described the merger as a transformative milestone that combines Union Bank’s 108-year heritage with Titan Trust’s innovative drive. She explained that the integration strengthens the bank’s capacity to serve customers through 293 service centres, 937 ATMs, and an enhanced digital infrastructure designed to meet the needs of retail, SME, and corporate clients.
Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, called the development “a pivotal moment in our 108-year journey,” stressing that the enlarged Union Bank is now positioned to deliver stronger value to customers by combining the stability of its legacy with the innovation of Titan Trust.
Chairman of the Board, Mr. Bayo Adeleke, also hailed the merger as the beginning of a new era of growth, collaboration, and shared prosperity. He assured that the unified institution is committed to creating sustainable value for customers, shareholders, and communities while advancing financial inclusion across Nigeria.
The merger marks a significant step in the evolution of Union Bank, consolidating its position in the Nigerian financial sector and strengthening its ability to compete in a rapidly changing banking landscape.
