Union Bank Bolsters Nigerian Presence with Titan Trust Merger, Adding Hundreds of ATMs
Union Bank of Nigeria has significantly expanded its reach across Nigeria’s financial landscape following the successful merger with Titan Trust Bank Limited. The Central Bank of Nigeria (CBN)’s final approval has paved the way for Titan Trust Bank to be fully integrated into Union Bank, solidifying its position as a major player in the Nigerian banking sector. This strategic move results in a considerably larger footprint for Union Bank, boosting its ATM network and service centers.
Expanding Service and Accessibility
As a direct outcome of the merger, Union Bank’s operational network has seen substantial growth. The bank now boasts a total of 293 service centres nationwide, along with a robust network of 937 ATMs. This significant addition stems from the incorporation of Titan Trust Bank’s assets and infrastructure. According to the merger terms, Titan Trust Bank’s entire portfolio, including its assets, liabilities, and business operations, is now under Union Bank’s management. This integration also simplifies things for customers, with existing current accounts, cards, and access channels remaining active. This enhanced accessibility benefits customers across Nigeria, reinforcing Union Bank’s commitment to providing seamless financial services.
In a statement, Olufunmilola Aluko, Head of Brand and Marketing, highlighted the merger’s impact, noting that it strategically “positions Union Bank as an even stronger force in Nigeria’s financial services landscape.” This merger, finalized in 2021 with a share sale agreement initiating Titan Trust Bank’s acquisition, demonstrates Union Bank’s proactive approach to growth in the competitive Nigerian financial market.
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