Union Bank of Nigeria Plc has announced the successful completion of its merger with Titan Trust Bank Limited, following the final approval of the Central Bank of Nigeria (CBN).

In a statement made available to The Alternative News, the Managing Director and Chief Executive Officer of Union Bank, Mrs. Yetunde Oni, described the milestone as a significant step that will strengthen the institution’s position within Nigeria’s financial services sector.

“The journey began with the signing of a Share Sale Agreement in 2021, and today, we stand as a stronger force in the banking industry. Under the terms of the merger, Union Bank has fully absorbed Titan Trust Bank’s operations and assets. The combined entity will continue to operate under the Union Bank brand, while Titan Trust ceases to exist as a separate entity," Oni said.

Oni highlighted that with an expanded footprint of 293 service centres and 937 ATMs nationwide, supported by stronger digital channels, the bank is well-positioned to serve retail, SME, and corporate customers.

“This merger combines Union Bank’s trusted heritage with Titan Trust’s agility and innovation, creating a platform for sustainable growth and broader financial inclusion. It is a pivotal moment in our 108-year journey, and a launchpad for delivering greater value to our customers,” she added.

Also speaking, Chairman of Union Bank’s Board of Directors, Mr. Bayo Adeleke, said the transition ushers in a new era of growth, collaboration, and shared prosperity.

“By bringing together 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,” he stated.

Adeleke assured customers of seamless service, noting that account details remain unchanged and access to products and services will continue uninterrupted, with greater focus on enhanced digital solutions.

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