Dare Babalola
Union Bank of Nigeria on Monday announced that the process of its merger with Titan Trust Bank Limited has been completed.
The merger, which was finalised in August 2025, marks a significant milestone in the banking industry, a statement by Union Bank stated on Monday, adding that the process followed a final approval from the Central Bank of Nigeria (CBN).
The development comes three years after Titan acquired Union Bank, one of the nation’s longest-standing financial institutions, in 2022.
The consolidation is occurring at a time when Nigerian banks are scrambling for investments to boost their capital in a race to meet the CBN minimum capital requirements deadline of March 2026.
Under the terms of the merger, according to the statement, “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,” the statement reads.
It continued, “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.
“The merger combines Union Bank’s trusted heritage with Titan Trust’s agility and innovation, creating a platform for sustainable growth and broader financial inclusion.”
The organisation assured customers that there would be no disruption to existing services.
The company also said account details will remain unchanged, promising that customers will continue to access a full suite of products and services seamlessly, “with an accelerated push towards enhanced digital solutions”.
According to Union Bank’s chief brand and marketing officer, Olufunmilayo Aluko, the merger concludes a process that began with the signing of a share sale agreement in 2021.
Aluko said the move positions the bank as a stronger force within Nigeria’s financial services sector.
