Union Bank Merges With Titan Trust, Retains Name

Union Bank of Nigeria (UBN) PLC has confirmed that it will retain its name following the successful completion of its merger with Titan Trust Bank.

Union Bank, one of the nation’s longest-standing financial institutions, has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).

The bank’s chief brand and marketing officer, Olufunmilola Aluko, who made this known, said this marks the conclusion of a process that began with the signing of a Share Sale Agreement in 2021 and positions Union Bank as a stronger force within Nigeria’s financial services sector.

According to her, under the merger terms, Union Bank has fully absorbed Titan Trust Bank’s operations and assets. The combined institution will continue to operate under the Union Bank brand, while Titan Trust Bank ceases to exist as a separate entity.

With an expanded footprint of over 293 service centres and 937 ATMs nationwide, supported by strengthened digital channels, Union Bank is poised to deliver enhanced value across retail, SME, and corporate segments. The merger combines Union Bank’s trusted heritage with Titan Trust’s agility and innovation, creating a platform for sustainable growth and broader financial inclusion.

Union Bank’s managing director and chief executive officer, Yetunde Oni, described the development as “a pivotal moment in our 108-year journey, and a launchpad for delivering greater value to our customers. By blending stability with innovation, we are better positioned to meet the evolving needs of Nigerians and to be their most trusted financial partner.”

Also speaking on the transaction, Bayo Adeleke, chairman of the Board of Directors, said: “This is a new era of growth, collaboration, and shared prosperity. By combining the strengths of both institutions, we are committed to creating lasting value for our customers, shareholders, and communities while advancing Nigeria’s financial inclusion agenda.”

The Bank has assured customers that existing services will not be disrupted. Account details remain unchanged, and customers will continue to access a full suite of products and services seamlessly, with an accelerated push towards enhanced digital solutions.

This strategic consolidation strengthens Union Bank’s market position, unlocks operational synergies, and underscores its ambition to deliver a modern, robust, and inclusive banking experience for all.