Union Bank, Titan Trust Merge Operations after CBN Approval
Union Bank of Nigeria Plc has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval by the Central Bank of Nigeria (CBN).
The transaction, which commenced in 2021 with the signing of a Share Sale Agreement, has now led to the full absorption of Titan Trust Bank’s operations and assets into Union Bank.
Under the arrangement, the institution will continue to operate under the Union Bank brand, while Titan Trust ceases to exist as a separate entity.
With over 293 service centres, 937 ATMs nationwide, and upgraded digital platforms, the consolidated bank is positioning itself to deliver stronger value across retail, SME, and corporate segments.
The merger is expected to combine Union Bank’s century-long heritage with Titan Trust’s innovative drive to boost financial inclusion and sustain growth in Nigeria’s banking sector.
Union Bank’s Managing Director and Chief Executive Officer, Yetunde Oni, described the development as a “significant milestone” in the bank’s 108-year history. “This is 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,” she said.
Chairman of the Board, Mr Bayo Adeleke, also welcomed the merger as “a new era of growth, collaboration, and shared prosperity”, stressing that the institution remains committed to creating long-term value for customers, shareholders, and communities while advancing Nigeria’s financial inclusion agenda.
The bank assured customers that account details remain unchanged and services will continue without disruption, even as it scales up investment in digital banking solutions.
With this consolidation, Union Bank strengthens its market position and operational capacity, aiming to provide a more modern and inclusive banking experience nationwide.
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