Union Bank completes full merger with Titan Trust, solidifies position

Union Bank of Nigeria Plc, one of the country’s oldest and most respected financial institutions, has officially completed its long-awaited merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).

The landmark development, which marks a major milestone in Nigeria’s banking sector, brings to conclusion a process that commenced in 2021 with the signing of a Share Sale and Purchase Agreement between both institutions.

Under the terms of the deal, Union Bank has fully absorbed Titan Trust Bank’s operations, assets, and liabilities, while Titan Trust ceases to exist as an independent entity.

With the integration, Union Bank now boasts a nationwide presence of over 293 service centres and 937 Automated Teller Machines (ATMs), further complemented by an expanded range of digital channels.

The merger strategically combines Union Bank’s 108-year-old heritage and stability with Titan Trust’s agility, innovation, and youthful energy — positioning the enlarged institution for sustainable growth and deeper financial inclusion.

Speaking on the consolidation, Union Bank’s Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, described the merger as a defining chapter in the bank’s history.

READ ALSO: Clean Seas: NIMASA Orders Strict Compliance with Global Anti-Pollution Rules

“This is 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,” she said.

Echoing her remarks, Chairman of the Board of Directors, Mr. Bayo Adeleke, stressed that the deal represents a new era of opportunity for stakeholders.

“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,” he said.

Union Bank has reassured customers that there will be no disruptions to existing services during the transition. Account details remain unchanged, and customers will continue to enjoy seamless access to the bank’s full suite of products and services, with renewed emphasis on digital banking solutions.

Industry analysts note that the consolidation is expected to strengthen Union Bank’s market position, unlock operational efficiencies, and enhance its ability to compete in an increasingly dynamic financial landscape.

The successful merger not only underscores the resilience and adaptability of Union Bank but also reflects broader trends in Nigeria’s financial services sector, where strategic consolidations are becoming key drivers of growth, innovation, and inclusive banking.