Union Bank of Nigeria

Overview

Union Bank of Nigeria is NGX: UBN + Nigerian commercial bank + Titan Trust Bank Nigerian commercial bank parent post-Jun 2022 ~$500M+ acquisition + Mar 28 2024 Union Bank + Titan Trust Bank legal merger consolidation + Nigeria's third-oldest commercial bank since 1917 [1, ng-cro].

History

1917 — Colonial Bank Nigeria founded as Nigerian commercial bank during British colonial era distinctive Nigerian banking heritage.

1979 — Colonial Bank Nigeria renamed Union Bank of Nigeria UBN.

Jun 2022 — Titan Trust Bank acquires majority controlling stake in Union Bank of Nigeria for ~$500M+.

Mar 28 2024 — Union Bank + Titan Trust Bank legal merger consolidation.

2014 — Union Mobile mobile banking app launch.

Ownership & operator

Operating entity: Union Bank of Nigeria UBN (Nigerian commercial bank; NGX: UBN).

Major shareholders: Titan Trust Bank Nigerian commercial bank parent post-Jun 2022 ~$500M+ acquisition + Mar 28 2024 Union Bank + Titan Trust Bank legal merger consolidation.

Regulators: CBN Central Bank of Nigeria.

Technical integration

Union Mobile app (iOS + Android) + unionbankng.com online + Union Bank of Nigeria branch network across Nigeria + Union Visa + Mastercard + Verve cards; NG IBAN + NIBSS Instant Payments + NQR Nigeria.

Implementations & partners

Major Nigerian banking + payments competitors: [[zenith-bank]] (Zenith Bank; NGX: ZENITHBANK; Nigerian commercial bank; one of Nigeria's largest commercial banks; Jim Ovia founder + controlling) + [[first-bank-nigeria]] (First Bank of Nigeria FBN; NGX: FBNH; Nigeria's oldest commercial bank since 1894) + [[gtbank]] (Guaranty Trust Bank GTBank; NGX: GTCO; Nigerian commercial bank; one of Nigeria's largest commercial banks) + [[access-bank]] (Access Bank; NGX: ACCESSCORP; Nigeria's #2 commercial bank by assets) + [[uba]] (UBA United Bank for Africa; NGX: UBA; Pan-African banking group across 20+ African countries) + [[ecobank]] (Ecobank Transnational Inc; ETI; Pan-African banking group across 35+ African countries) + [[stanbic-ibtc]] (Stanbic IBTC; NGX: STANBIC; Standard Bank Group Nigerian subsidiary) + [[opay]] (OPay; Nigerian super-app + mobile money; Opera + Softbank Vision Fund + others; ~50M+ Nigerian OPay users) + [[carbon]] (Carbon Nigeria digital bank) + [[kuda-bank]] (Kuda Bank Nigerian digital bank) + [[flutterwave]] (Flutterwave; Nigerian fintech) + [[paystack]] (Paystack; Stripe-owned Nigerian payment processor).

Regulators: CBN Central Bank of Nigeria.

Status

Active, NGX:UBN + Nigerian commercial bank + Titan Trust Bank Nigerian commercial bank parent post-Jun 2022 ~$500M+ acquisition + Mar 28 2024 Union Bank + Titan Trust Bank legal merger consolidation + Nigeria's third-oldest commercial bank since 1917 [1, 2].

Sources

• 1 Union Bank Nigeria — official
• 2 Union Bank Nigeria — Wikipedia
• ng-cro In-corpus: reports/countries/NG-nigeria.md

Source

Biography extracted from union-bank-nigeria.md. See matrix.md for standards-support matrix if present.