Central Bank of Nigeria (CBN): Union Bank Completes Merger With Titan Trust Bank

Union Bank of Nigeria has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval from the Central Bank of Nigeria (CBN).

The bank said in a statement signed by its Head of Brand and Marketing, Olufunmilola Aluko, on Monday that the milestone had brought to an end, the process which began in 2021 with the signing of a Share Sale Agreement and positions Union Bank as an even stronger force within Nigeria’s financial services sector.

Under the terms of the merger, Union Bank, one of the nation’s longest-standing financial institutions, today has fully absorbed Titan Trust Bank’s operations and assets.

According to the statement, the combined institution will continue to operate under the Union Bank brand, while Titan Trust Bank ceases to exist as a separate entity.

Union Bank said with an expanded footprint of over 293 service centres and 937 ATMs nationwide, supported by strengthened digital channels, it is poised to deliver enhanced value across retail, SME, and corporate,Hit. Read. . More.  —  To Uncover Full News