Union Bank of Nigeria has officially completed its merger with Titan Trust Bank Limited, after receiving final approval from the Central Bank of Nigeria (CBN).
This move comes three years after Titan Trust Bank acquired Union Bank in 2022, one of Nigeria’s oldest and most respected financial institutions. The merger was confirmed in a statement released on Monday.
Under the new arrangement, Titan Trust Bank will no longer exist as a separate bank. Instead, all its operations and assets have been fully absorbed into Union Bank. The combined bank will continue to operate under the Union Bank name.
With the merger, Union Bank now has over 293 branches, 937 ATMs, and stronger digital banking platforms across the country. According to the bank, this will help them serve customers better, from individuals to small businesses and large companies.
Union Bank says the merger brings together its long history and trusted brand with Titan Trust’s speed and innovation, creating a stronger financial institution that can offer more value to Nigerians.
The bank’s CEO, Yetunde Oni, described the merger as “a pivotal moment in our 108-year journey” and promised customers better products and services. The chairman of the board, Bayo Adeleke, also said it represents “a new era” of growth and financial inclusion.
Customers have been assured that their accounts, details, and services remain unchanged, and there will be no disruptions. Instead, the bank says it will continue improving digital solutions for easier access to banking.
This merger also comes at a time when Nigerian banks are under pressure to raise more capital ahead of the CBN’s March 2026 deadline for new minimum capital requirements.
Union Bank had earlier announced plans to delist from the stock exchange in late 2023 as part of the transition.
