A Stronger Union: Union Bank Completes Merger with Titan Trust, Expands Nationwide Reach
Detailed Breakdown:
The Big News:
Union Bank of Nigeria has officially completed its merger with Titan Trust Bank Limited, after receiving final approval from the Central Bank of Nigeria (CBN).
Background:
• The journey started in 2021 when both banks signed a Share Sale Agreement.
• Titan Trust Bank, one of Nigeria’s youngest but fastest-growing banks, has now been fully absorbed into Union Bank.
• Going forward, the Union Bank name and brand will remain, while Titan Trust ceases to exist as a standalone entity.
What Changes for Customers?
• No disruption: Customers’ account details and services remain the same.
• Expanded access: Over 293 branches and 937 ATMs nationwide.
• Stronger digital presence: Expect an accelerated rollout of digital banking solutions.
Why It Matters:
This merger combines Union Bank’s 108-year legacy with Titan Trust’s agility and innovation, creating a bigger and more competitive player in Nigeria’s financial services space.
Voices from the Top:
• Yetunde Oni (MD/CEO, Union Bank):
“This is a pivotal moment in our journey — blending stability with innovation to serve Nigerians better.”
• Bayo Adeleke (Chairman, Union Bank):
“We are entering a new era of growth, collaboration, and financial inclusion.”
• Olufunmilayo Aluko (Chief Brand & Marketing Officer):
“The merger strengthens our footprint, expands opportunities, and ensures we deliver enhanced value across retail, SME, and corporate banking.”
The Bigger Picture:
• Union Bank is now better positioned to drive financial inclusion, unlock synergies, and compete strongly with top-tier Nigerian banks.
• This also signals the trend of strategic consolidations in Nigeria’s banking sector — where stronger banks are merging with agile newcomers to create formidable players.
Detailed Breakdown:
The Big News:
Union Bank of Nigeria has officially completed its merger with Titan Trust Bank Limited, after receiving final approval from the Central Bank of Nigeria (CBN).
Background:
• The journey started in 2021 when both banks signed a Share Sale Agreement.
• Titan Trust Bank, one of Nigeria’s youngest but fastest-growing banks, has now been fully absorbed into Union Bank.
• Going forward, the Union Bank name and brand will remain, while Titan Trust ceases to exist as a standalone entity.
What Changes for Customers?
• No disruption: Customers’ account details and services remain the same.
• Expanded access: Over 293 branches and 937 ATMs nationwide.
• Stronger digital presence: Expect an accelerated rollout of digital banking solutions.
Why It Matters:
This merger combines Union Bank’s 108-year legacy with Titan Trust’s agility and innovation, creating a bigger and more competitive player in Nigeria’s financial services space.
Voices from the Top:
• Yetunde Oni (MD/CEO, Union Bank):
“This is a pivotal moment in our journey — blending stability with innovation to serve Nigerians better.”
• Bayo Adeleke (Chairman, Union Bank):
“We are entering a new era of growth, collaboration, and financial inclusion.”
• Olufunmilayo Aluko (Chief Brand & Marketing Officer):
“The merger strengthens our footprint, expands opportunities, and ensures we deliver enhanced value across retail, SME, and corporate banking.”
The Bigger Picture:
• Union Bank is now better positioned to drive financial inclusion, unlock synergies, and compete strongly with top-tier Nigerian banks.
• This also signals the trend of strategic consolidations in Nigeria’s banking sector — where stronger banks are merging with agile newcomers to create formidable players.