Union Bank of Nigeria has announced the completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).
A statement from the bank’s Chief Brand and Marketing Officer, Olufunmilayo Aluko, confirmed the milestone, which positions Union Bank as a stronger entity in the financial sector.
Under the terms of the merger, Union Bank has fully absorbed Titan Trust Bank’s operations and will retain the Union Bank brand, while Titan Trust Bank “ceases to exist as a separate entity.”
The new institution will have an expanded footprint of “over 293 service centres and 937 ATMs nationwide,” along with strengthened digital channels.
The merger is intended to combine Union Bank’s “trusted heritage with Titan Trust’s agility and innovation,” creating a platform for “sustainable growth and broader financial inclusion.”
The bank has assured customers that there will be no disruption to services.
Union Bank’s Managing Director and CEO, Yetunde Oni, described the merger as “a pivotal moment in our 108-year journey and a launchpad for delivering greater value to our customers.”
She added that by “blending stability with innovation,” the bank is “better positioned to meet the evolving needs of Nigerians and to be their most trusted financial partner.”
The Chairman of the Board of Directors, Bayo Adeleke, called it “a new era of growth, collaboration, and shared prosperity” and said the bank is “committed to creating lasting value for our customers, shareholders, and communities while advancing Nigeria’s financial inclusion agenda.”
