Nigeria: Inside Titan Trust Bank’s planned acquisition of Union Bank 

In December last year, the news of the transaction reverberated through the financial industry. TTB, a bank established in 2019 and which is largely unknown on the national level, acquired a majority stake in Union Bank, which is Nigeria’s second-oldest bank.

TTB positions itself as a digital bank and hopes to harness Union Bank’s reach – 239 branches and about 1,000 cash points – to scale its “innovation-led model” of banking.