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Nigeria’s commercial bank, Titan Trust Bank, has been absorbed into Union Bank.
The merger was announced on Monday in a statement by the bank’s Head of Brand and Marketing, Mrs Olufunmilola Aluko.
This follows approval granted by the Central Bank of Nigeria.
The bank assured customers that while the merger is in effect, their details remain unchanged and services will continue uninterrupted.
“Union Bank has fully absorbed Titan Trust Bank’s operations and assets. The combined institution will continue to operate under the Union Bank brand, while Titan Trust Bank ceases to exist as a separate entity,” Aluko said.
“Titan Trust Bank is Now Union Bank of Nigeria!” Union Bank wrote in a statement on its X account.
Titan Trust Bank had previously acquired an 89.4 per cent stake in Union Bank, a move that led to the latter’s delisting from the Nigerian Exchange Limited in 2023.
