02/09/2025
A New Chapter Begins: Union Bank Now Powered by Titan Trust Bank!
Today, we mark a major milestone in the history of Nigerian banking. Union Bank of Nigeria has officially merged with Titan Trust Bank, culminating a strategic journey that began nearly four years ago.
In December 2021, Titan Trust Bank signed a Share Sale Agreement with Union Bank’s majority shareholders—including Union Global Partners, Atlas Mara, and others—initiating the acquisition of up to 93.41% of Union Bank’s issued share capital.
By May–June 2022, the deal was finalized: Titan Trust acquired 89.39%, then increased its holdings to 93.41%, becoming the core controlling investor. This marked the end of Union Bank’s listing journey, setting the stage for transformative change.
In response, Union Bank’s board was reshuffled: legendary leaders retired, making way for a new team headed by newly appointed Chairman Farouk Mohammed Gumel and CEO Mudassir Amray—the very founder who launched Titan Trust Bank just a few years earlier.
In November 2022, Titan Trust executed a Mandatory Takeover Offer (MTO), inviting minority shareholders to join the deal—with strong uptake—allowing the bank to eventually delist from the Nigerian Exchange
The merger was finalized following court approval of the restructuring plan in December 2023, officially making Union Bank the surviving entity—but fully infused with Titan Trust’s innovation-led DNA
And now, as of September 2025, the integration is complete: Titan Trust Bank has ceased to exist as a separate entity, and the merged operation continues proudly under the Union Bank brand—with over 293 service centers, 937 ATMs, and a strengthened digital platform serving more than 8 million customers nationwide.
This union brings together a legacy of reliability and a spirit of innovation, enhanced services and customer based services.
I have rarely heard Union Bank customers complain about their bank. That is a sign of formidable and reliable bank.
