The Central Bank of Nigeria (CBN) has granted final approval for the merger between Union Bank of Nigeria Plc and Titan Trust Bank Limited.
This development concludes a process that began in 2021 with the signing of a Share Sale Agreement. Following the merger, Union Bank has fully absorbed Titan Trust Bank’s operations and assets, leaving Union Bank, the 108-year-old financial institution, as the surviving entity.
The bank will continue to operate under the Union Bank name, while Titan Trust ceases to exist as a separate entity. Union Bank now boasts more than 293 service centres and 937 Automated Teller Machines nationwide, backed by enhanced digital platforms serving retail customers, SMEs, and large corporations.
According to the bank, the merger brings together Union Bank’s long-established reputation and Titan Trust’s agility, creating a stronger foundation for financial inclusion and sustainable growth.
Union Bank assured customers that their account details remain unchanged and that services will continue without interruption. It also noted that the integration will accelerate the deployment of improved digital banking solutions to meet the growing needs of Nigerians.
