Union Bank of Nigeria has completed its long-awaited merger with Titan Trust Bank Limited, cementing one of the most significant consolidations in Nigeria’s banking history. The final approval from the Central Bank of Nigeria (CBN) marks the end of a process that began in 2021 with the signing of a Share Sale Agreement.
Under the deal, Titan Trust Bank has been fully absorbed into Union Bank’s operations, ceasing to exist as an independent entity. The combined institution will continue to operate under the Union Bank brand — a name that carries 108 years of heritage — but now with the added agility and innovation of Titan Trust Bank.
Union Bank now boasts an expanded footprint of 293 service centres and 937 ATMs nationwide, backed by strengthened digital platforms to better serve retail, SME, and corporate clients. According to Chief Brand and Marketing Officer, Mrs. Olufunmilola Aluko, the move represents a “fusion of trusted legacy and cutting-edge innovation,” designed to accelerate financial inclusion and sustainable growth across Nigeria.
Managing Director and Chief Executive Officer, Mrs. Yetunde Oni, described the merger as a defining moment for the bank. “This is a pivotal point in our 108-year journey. By blending stability with innovation, we are better positioned to deliver superior value to our customers and become their most trusted financial partner,” she said, hinting at stronger digital rollouts and innovative services in the months ahead.
Board Chairman, Mr. Bayo Adeleke, also welcomed the new era, stressing that the consolidation was not just about size but about synergy. “This is a new chapter of growth, collaboration, and shared prosperity. We are committed to creating lasting value for our customers, shareholders, and communities while advancing Nigeria’s financial inclusion agenda,” he stated.
For customers, Union Bank has assured that services will remain seamless, with no changes to account details or disruptions to banking operations. Instead, the integration promises faster, smarter, and more digital-first solutions that reflect the evolving demands of Nigeria’s banking public.
Analysts say the merger strengthens Union Bank’s competitive edge in a sector where scale, technology, and innovation increasingly determine market leadership. With its reinforced capital base, broader reach, and sharpened strategy, Union Bank is positioning itself as a modern financial powerhouse, ready to compete with the biggest players while staying true to its legacy as “the simpler, smarter bank.”
