Titan Trust Bank plans Africa expansion after UBN acquisition


Titan Trust Bank Limited, the Nigerian lender has acquired the shares of Atlas Mara Limited after acquiring Union Bank Plc to cement its planned expansion across Africa after stabilising its operations in Nigeria The Trumpet gathered.

Union Bank Plc
Union Bank Plc

Chief Executive Officer, Mudassir Amray, maintained that the initial plan for the first two years after the acquisition was to focus on key industries such as agriculture and big companies for transactions and later consider expansion in Africa, as well as diversify across general financial services.

“Acquisition of Union Bank gives Titan Trust the scope to do bigger deals because it lift firm’s regulator-imposed lending limit by creating Nigeria’s sixth biggest bank,” he said.

Read Also: Four members of same family killed in tourist plane crash

It would be recalled that Union Bank’s total assets rose by 19 per cent to N2.6 trillion in 2021, while Titan Trust total assets hit N136 billion in 2020.


In 2021, Titan Trust signed the agreement with Atlas Mara, Union Global Partners Limited and other shareholders to acquire 89.39 per cent of Union Bank’s shares, subject to regulatory approval and other financial conditions.

Titan Trust Bank
Titan Trust Bank

“It is looking to obtain regulatory approval this month after which it will close the transaction,” Amray said.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
A note to our visitors

This website has updated its privacy policy in compliance with changes to European Union data protection law, for all members globally. We’ve also updated our Privacy Policy to give you more information about your rights and responsibilities with respect to your privacy and personal information. Please read this to review the updates about which cookies we use and what information we collect on our site. By continuing to use this site, you are agreeing to our updated privacy policy.