Titan Trust Bank has acquired Union Bank in Nigeria through a mandatory takeover. The new company acquired 1,927,532,558 ordinary shares in Union Bank, which represented 6.59% of the company’s shareholding, valuing the shares at 50 kobo each. Titan Trust Bank was established in December 2018 and received its national banking license in April 2019. Union Bank, one of the oldest and most successful financial institutions in the country, was established in 1917 and has a network of over 255 sales and service centres across Nigeria and more than 925 ATMs.