Union Bank of Nigeria, one of the country’s oldest and most respected financial institutions, has announced the successful completion of its merger with Titan Trust Bank Limited, after securing final approval from the Central Bank of Nigeria (CBN).
The development marks the close of a journey that started in 2021 with the signing of a Share Sale Agreement, and it firmly positions Union Bank as a stronger and more competitive player in Nigeria’s banking industry.
Following the merger, Union Bank has fully integrated Titan Trust Bank’s assets and operations. The combined entity will continue to operate under the Union Bank name, while Titan Trust Bank will no longer exist as a separate brand.
With a wider network of 293 branches and 937 ATMs nationwide, alongside enhanced digital channels, Union Bank says the integration strengthens its ability to serve retail, SME, and corporate customers. The union blends Union Bank’s heritage and trust with Titan Trust’s innovative approach, creating a foundation for sustainable growth and deeper financial inclusion.
Union Bank’s Managing Director/CEO, Mrs. Yetunde Oni, described the merger as a significant milestone in the bank’s 108-year history. “This marks a new chapter for us and our customers. By combining stability with innovation, we are ready to deliver even greater value and remain the financial partner of choice for Nigerians,” she said.
Board Chairman, Mr. Bayo Adeleke, also commented, saying the merger signals “a new era of growth, partnership, and shared prosperity.” He added that the strengthened institution will create long-term benefits for customers, shareholders, and communities, while supporting Nigeria’s financial inclusion drive.
The bank assured customers that their accounts and services remain unaffected by the merger. Union Bank will continue to provide seamless access to its full range of products, with an accelerated focus on digital banking solutions.
This strategic consolidation not only strengthens Union Bank’s position in the market but also reinforces its ambition to deliver a modern, resilient, and inclusive banking experience for all Nigerians.