The Digest:In a major move within the Nigerian financial sector, Union Bank of Nigeria has officially completed its merger with Titan Trust Bank. The consolidation, which received final CBN approval, sees Titan Trust Bank absorbed into Union Bank, promising seamless service for customers.
Key Points:
- Union Bank of Nigeria has completed its merger with Titan Trust Bank Limited.
- The merger received final approval from the Central Bank of Nigeria (CBN).
- Titan Trust Bank will cease to exist as a separate entity.
- The combined institution will operate under the Union Bank brand.
- The merger is part of the effort to meet the CBN's capital requirements deadline of March 2026.
- Customers' accounts and services are assured to remain unchanged.
- The consolidation expands Union Bank's service centers to over 293 nationwide.
The completion of this merger marks a significant development in Nigeria's banking landscape. By combining the heritage of Union Bank with the agility of Titan Trust, the new entity aims to be a more robust and competitive force in the sector.
Sources: TheCable.ng (via Union Bank statement)
