Union Bank of Nigeria Completes Merger with Titan Trust Bank

<p>Union Bank of Nigeria Completes Merger with Titan Trust Bank<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng">OpenLife Nigeria<&sol;a><&sol;strong> reports that Union Bank of Nigeria&comma; one of the nation’s longest-standing financial institutions&comma; today announced the successful completion of its merger with Titan Trust Bank Limited&comma; following final approval from the Central Bank of Nigeria &lpar;CBN&rpar;&period;<&sol;p>&NewLine;<p>This milestone concludes a process that began with the signing of a Share Sale Agreement in 2021 and positions Union Bank as an even stronger force within Nigeria’s financial services sector&period;<&sol;p>&NewLine;<p>Under the terms of the merger&comma; Union Bank has fully absorbed Titan Trust Bank’s operations and assets&period;<&sol;p>&NewLine;<p>The combined institution will continue to operate under the Union Bank brand&comma; while Titan Trust Bank ceases to exist as a separate entity&period;<&sol;p>&NewLine;<p>With an expanded footprint of over 293 service centres and 937 ATMs nationwide&comma; supported by strengthened digital channels&comma; Union Bank is poised to deliver enhanced value across retail&comma; SME&comma; and corporate segments&period;<&sol;p>&NewLine;<p>The merger combines Union Bank’s trusted heritage with Titan Trust’s agility and innovation&comma; creating a platform for sustainable growth and broader financial inclusion&period;<&sol;p>&NewLine;<p>Union Bank’s Managing Director and Chief Executive Officer&comma; Mrs&period; Yetunde Oni&comma; described the development as &OpenCurlyDoubleQuote;<em><strong>a pivotal moment in our 108-year journey&comma; and a launchpad for delivering greater value to our customers&period;<&sol;strong><&sol;em><&sol;p>&NewLine;<p><em><strong>&&num;8220&semi;By blending stability with innovation&comma; we are better positioned to meet the evolving needs of Nigerians and to be their most trusted financial partner&period;”<&sol;strong><&sol;em><&sol;p>&NewLine;<p>Also speaking on the transaction&comma; Chairman of the Board of Directors&comma; Mr&period; Bayo Adeleke&comma; said&colon; &OpenCurlyDoubleQuote;<em><strong>This is a new era of growth&comma; collaboration&comma; and shared prosperity&period; By bringing together the strengths of both institutions&comma; we are committed to creating lasting value for our customers&comma; shareholders&comma; and communities while advancing Nigeria’s financial inclusion agenda&period;”<&sol;strong><&sol;em><&sol;p>&NewLine;<p>The Bank has assured customers that there will be no disruption to existing services&period; Account details remain unchanged&comma; and customers will continue to access a full suite of products and services seamlessly&comma; with an accelerated push towards enhanced digital solutions&period;<&sol;p>&NewLine;<p>This strategic consolidation strengthens Union Bank’s market position&comma; unlocks operational synergies&comma; and underscores its ambition to deliver a modern&comma; robust&comma; and inclusive banking experience for all&period;<&sol;p>&NewLine;