Titan Trust Bank Limited, Nigeria’s youngest commercial bank, has acquired 89.39 per cent equity in Union Bank Nigeria Plc, in a transaction stakeholders are optimistic would improve the financial institution’s corporate governance.
Commenting on the deal: Chairman of Union Bank, Beatrice Hamza Bassey said: “On behalf of the Board, we congratulate all the parties involved in reaching this phase of the transaction and the Board looks forward to supporting the next steps to ensure seamless completion of the process following regulatory approvals.
He added: “The deal represents a unique opportunity to combine Union Bank’s longstanding and leading banking franchise with TTB’s innovation-led model which promises to enhance the product and service offering for our combined valued customers.” The Chief Executive Officer of Titan Trust, Mudassir Amray, described the deal as a significant leap in the market share of the two-year-old financial institution
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