Union Bank finalises merger with Titan Trust Bank

The bank disclosed in a statement on Sunday that the consolidation process began in 2021 with the signing of a Share Sale Agreement.

With the merger now concluded, Union Bank has fully integrated Titan Trust Bank’s operations and assets. The enlarged institution will continue under the Union Bank brand, while Titan Trust Bank ceases to exist as a separate entity.

Chief Brand and Marketing Officer, Mrs. Olufunmilola Aluko, noted that the merger strengthens Union Bank’s position in Nigeria’s financial services sector.

“With an expanded network of over 293 branches and 937 ATMs nationwide, complemented by stronger digital platforms, Union Bank is set to deliver greater value across retail, SME, and corporate banking. This merger blends Union Bank’s rich heritage with Titan Trust’s agility and innovation, laying the foundation for sustainable growth and wider financial inclusion,” she said.

The Managing Director/Chief Executive Officer of Union Bank, Mrs. Yetunde Oni, described the deal as a landmark in the bank’s 108-year history.

“This marks a pivotal stage in our journey and a springboard for enhanced value creation. By combining stability with innovation, we are better equipped to meet the evolving needs of Nigerians and become their most trusted financial partner,” she stated.

Also commenting, Chairman of the Board, Mr. Bayo Adeleke, described the merger as the beginning of “a new era of growth, collaboration, and shared prosperity.” He emphasised that the union would create long-term value for customers, shareholders, and communities, while advancing financial inclusion across Nigeria.

Union Bank assured customers that there would be no disruption to services. Account details remain unchanged, and clients will continue to enjoy a full range of banking solutions with accelerated digital innovation.

The bank added that the consolidation enhances its market presence, unlocks operational synergies, and reinforces its commitment to delivering a modern and inclusive banking experience.

Earlier, Union Bank had sent out an email to its customers titled ‘This Union is Evolving’, hinting at the merger and welcoming them to what it described as a “stronger union.”