Union Bank Finalizes Merger with Titan Trust Bank Following CBN Approval

Union Bank of Nigeria, one of the country’s oldest financial institutions, has officially completed its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN). This strategic consolidation, initiated in 2021, marks a significant milestone in Nigeria’s banking sector.

Under the terms of the merger, 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. [1]

This merger comes as Nigerian banks are working to meet the CBN’s new minimum capital requirements, with a deadline set for March 2026. The consolidation combines Union Bank’s trusted heritage with Titan Trust’s agility and innovation, creating a platform for sustainable growth and broader financial inclusion. [2]

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.” [2]

Customers have been assured that there will be no disruption to existing services. 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. [3]

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.

Citations:

1. TheCable: www.thecable.ng/union-bank-completes-merger-with-titan-trust-bank-4-years-after-share-sale-deal/?utm_source=chatgpt.com
2. Nairametrics: nairametrics.com/2025/09/01/union-bank-completes-merger-with-titan-trust-bank/?utm_source=chatgpt.com
3. Nairametrics: nairametrics.com/2025/09/01/titan-trust-bank-ceases-operations-in-nigeria-as-union-bank-finalizes-takeover/?utm_source=chatgpt.com