Union Bank Completes Merger with Titan Trust Bank Ahead of CBN Deadline - Stronger Force in Nigeria's Financial Sector

Union Bank, one of Nigeria's oldest banks, has successfully completed a merger with Titan Trust Bank ahead of the CBN's March 31, 2026, recapitalization deadline. The merger, which received final approval from the CBN, positions Union Bank as a stronger force in Nigeria's financial sector.

According to Olufunmilayo Aluko, Chief Brand Marketing Officer of Union Bank, the merger process began in 2021 and has now concluded, with Union Bank fully absorbing Titan Trust Bank's operations and assets. The combined institution will continue to operate under the Union Bank brand, with 293 service centers, 937 ATMs nationwide, and enhanced digital channels to cater to SMEs, retail, and corporate segments.

The merger aims to leverage Union Bank's heritage and Titan Trust Bank's innovation for sustainable growth and increased financial inclusion.