A Stronger Union: Union Bank Completes Merger with Titan Trust, Expands Nationwide Reach

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Olori Uwem

Well-Known Member
Mar 18, 2024
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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.