Union Bank Restates Commitment To Nigeria’s Growth

Union Bank of Nigeria Plc has restated its commitment to growth of the nation, as it continues to drive growth and profitability of its business.

The financial institution celebrated its 105th year of serving Nigerians with the announcement of the completion of a landmark transaction that saw the integration of the bank with Titan Trust bank to form a stronger union.

This announcement kicked off several noteworthy events and major milestones and Union Bank in 2022 recorded growth in all area.

The bank celebrates its 105th year of operations as Titan Trust Bank gets nod from regulators for the official integration. The fusion of both entities created expanded networks, increased operational efficiency and capacity as well as improved service delivery for the customers. The new direction set Union Bank on a path of delivering prosperity and shared growth for its partners and customers all over the African continent.

The bank said: “as part of its commitment to push beyond banking to promote innovation and creativity nationwide, Union Bank partnered with AfricaNXT, formerly known as Social Media Week, to host the largest gathering of innovators across Africa.

It added that “in March 2022, the cank, as an organisation committed to leading the charge for inclusion and parity, has consistently leveraged International Women’s Day (IWD) to promote impactful discourse and encourage positive action for gender equality 2022 was no different.”

Union Bank said: “April 2022, the Bank launched SpaceNXT a future-forward, purpose designed co-working technological and innovation hub built to promote innovation and encourage collaboration within the tech ecosystem in Nigeria.

“Following the completion of the official integration, and the subsequent receipt of all necessary regulatory approvals, Union Bank posted a formal notice of change in control with TGI Group, parent of TTB, now the majority shareholder and core investor in Union Bank. “In addition to this, the bank also announced the completion of the divestment of the bank’s entire shareholding interest (direct and indirect) in its subsidiary, Union Bank (UK) Plc and the effective appointment of a chief executive officer, Board chair, and the reconstitution of a new board of directors.”

Union Bank added that, in June 2022, Afrexim Bank backed Titan Trust Bank with the sum of $300 million to support the integration with Union Bank to ensure the bank is well positioned to deliver value to its customers and shareholders.

“Following a successful first season, Union Bank announced the return of Save & Win Promo, its flagship campaign aimed at rewarding new and existing customers with cash rewards and other gift items worth over N55 million.

“As part of its continued commitment to UN SDG5, Union Bank continued its long-standing partnership with Junior Achievement Nigeria (JAN) to impact over 300 girls, in the 21st edition of the Leadership Empowerment Achievement and Development (LEAD) Camp which marked the eighth year of collaboration between JAN and Union Bank,” the bank explained.

Chairman, board of directors, Union Bank, Mr. Farouk Gumel highlighted “how Union Bank in their 105-year history continues to support the Nigerian farmer and pointed out that the recent integration with the parent TGI group has further opened more opportunities for the Bank to leverage international partnerships to service the rural economy.”