Union Bank of Nigeria on Monday announced the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
The milestone marks the culmination of a process that began in 2021 with the signing of a Share Sale Agreement, positioning Union Bank as a stronger and more competitive force within Nigeria’s financial services industry.
In a statement, Olufunmilayo Aluko, the bank’s Chief Brand and Marketing Officer, confirmed that Union Bank has fully absorbed Titan Trust Bank’s operations and assets. As a result, the merged entity will continue to operate under the Union Bank name, while Titan Trust Bank ceases to exist as a separate institution.
With a combined network of over 293 service centres and 937 ATMs across the country—alongside enhanced digital capabilities—Union Bank says it is better equipped to deliver value to customers across the retail, SME, and corporate segments.
The merger blends Union Bank’s 108-year legacy and stability with Titan Trust’s innovation and agility, creating what the bank describes as a platform for sustainable growth and broader financial inclusion.
Chairman of Union Bank’s Board of Directors, Bayo Adeleke, called the merger “a new era of growth, collaboration, and shared prosperity,” adding:
“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.”
Managing Director and Chief Executive Officer, Yetunde Oni, described the move as “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 become their most trusted financial partner,” she said.
Union Bank assured customers that there will be no disruption to existing services. All account details remain unchanged, and customers will continue to enjoy uninterrupted access to products and services, with an accelerated focus on digital transformation.
