• About
  • Advertise
  • Contact
Wednesday, September 17, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Union Bank to change hand as core investors agree to sell 89.39 pct stake to TTB

Vital News by Vital News
December 23, 2021
in Economy
0
Share on FacebookShare on Twitter

Lagos – Union Bank changes hand as Core Investors agree to sell 89.39 per cent stake to TITAN TRUST BANK

Lagos – The Board of Union Bank of Nigeria Plc on Thursday notified the NGX and Securities Exchange Commission that its investors Union Global Partners Limited, Atlas Mara Limited and other shareholders have reached an agreement with Titan Trust Bank Limited (TTB) to divest their shareholding in Union Bank to TTB.

In a statement in Lagos, the management of the bank said the agreement, which is subject to regulatory approvals and other financial conditions, will upon completion transfer
89.39% of Union Bank’s issued share capital to TTB.

Commenting on the transaction,
Union Bank Chairman, Mrs.Beatrice Hamza Bassey said
“On behalf of the Board, we congratulate all the parties involved in reaching this phase
of the transaction.

She said that the Board looks forward to supporting the next steps to ensure a seamless completion of the process following regulatory approvals.

RelatedStories

How Our Refinery Ended 50 Years Of Fuel Queues In Nigeria – Dangote

Dangote Industries Ltd. Expresses Readiness To Sponsor 2025 Abuja Trade Fair

Mrs Tinubu Launches N25mln Women Empowerment Programme In Kogi

Tax ID Mandatory Only For Taxable Persons In Trades, Businesses For Income Generation – FG

“We are grateful to our current investors whose significant and consequential investments over the past nine years facilitated the transformation of Union Bank, one of Nigeria’s oldest and storied institutions.

“Today, the Bank is well-positioned with an
innovative product offering, a growing customer base of over six million and consistent
year on year profitability.

” This is a solid foundation for our incoming investors to build
on as we move into a new era for the Bank,” She said.

In his remarks, the
Chairman, Titan Trust Bank, Mr. Tunde Lemo, said
“the Board of Titan Trust Bank and our key stakeholders are delighted as this
transaction marks a key step for Titan Trust in its strategic growth journey and propels
the institution to the next level.

“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, Union Bank, Mr. Emeka Okonkwo said:
“this transaction marks a significant milestone in the journey of our 104-year old Bank.

“While thanking our current investors for their unwavering commitment to the bank
over the years, we welcome our new core investor, TTB.

“We recognize the strategic
fit between the two institutions and expect that this deal will deliver the best outcome for our employees, customers and stakeholders.

“We look forward to collectively writing
the next exciting chapter for Union Bank.”

The Chief Executive Officer, Titan Trust Bank, Mr. Mudassir Amray in his speech said
“after completing over two years of operations with aggressive organic growth, we are
excited to have an opportunity for a significant leap forward in market share.

“UBN’s
widespread presence, state of the art technology platform, quality staff and strong
brand loyalty fits well with our synchronized modular strategy.

“We look forward to
delivering superior results for the benefit of our staff, customers, shareholders, and
stakeholders.”

The bank was established in 1917 and listed on the Nigerian Stock Exchange in 1971.

Union Bank is a household
name and one of Nigeria’s long-standing and most respected financial institutions.

The Bank has a network of over 280 Sales and Service Centers across Nigeria. (vitalnews)

Tags: Core InvestorsTTBUnion Bank
Previous Post

Shock as Queen Naomi Shilekunola divorces Ooni Enitan Ogunwusi

Next Post

Zamfara Commissioner resigns appointment to become Commissioner in Imo

Vital News

Vital News

RelatedStories

How Our Refinery Ended 50 Years Of Fuel Queues In Nigeria – Dangote
Economy

How Our Refinery Ended 50 Years Of Fuel Queues In Nigeria – Dangote

September 15, 2025
Dangote Industries Ltd. Expresses Readiness To Sponsor 2025 Abuja Trade Fair
Business

Dangote Industries Ltd. Expresses Readiness To Sponsor 2025 Abuja Trade Fair

September 15, 2025
Mrs Tinubu Launches N25mln  Women Empowerment Programme In Kogi
Business

Mrs Tinubu Launches N25mln Women Empowerment Programme In Kogi

September 12, 2025
Tax ID Mandatory Only For  Taxable Persons In Trades, Businesses For Income Generation – FG
Economy

Tax ID Mandatory Only For Taxable Persons In Trades, Businesses For Income Generation – FG

September 12, 2025
FCCPC Recovers N10 billion For Consumers, Resolves 9, 091 Complaints In Five Months
Economy

FCCPC Recovers N10 billion For Consumers, Resolves 9, 091 Complaints In Five Months

September 11, 2025
Next Post

Zamfara Commissioner resigns appointment to become Commissioner in Imo

Corruption : NSCDC Commandant forfeits 60 houses, hectares of land to FG

We’re probing possible hacking of Olori Naomi’s Instagram page, says Ooni’s

Leave a Reply Cancel reply

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

Follow Us

Recommended

Legendary Pele’s Final Moments In Hospital , Surrounded By Family

World Football Legend, Pele Dies At 82

3 years ago

12 die in accident on Ilorin-Ogbomoso road

4 years ago
We Are Not Owing Fees In Any Institution – PAP Says, Sets Records Straight On Claims By Novena University

Renewed Hope Agenda : PAP Sends 142 Beneficiaries To UK For Postgraduate Studies

5 days ago
Gov. Abiodun Congratulates Super Eagles For Qualifying For AFCON Semi-final

Abiodun Congratulates Super Eagles For Reaching AfCON Final

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Kidnappers Release Kogi Catholic Priest, Rev. Fr. Ezeamba

Our CNG Drivers Enjoy Life Insurance, Housing Loans, Earn Three Times The Minimum Wage – Dangote Refinery

President Tinubu Returns To Abuja

Anti-graft Group, YPU, Decries Disrepair State Of Hospitals, Roads In Yobe In spite Alleged Release Of N1 trillion

Your Allegation Of Cheaper Petrol Sales In Togo Misleading, Inaccurate – Dangote Refinery To DAPPMAN

NNPCL GCEO, Ojulari Calls For Stronger African Collaboration To Achieve Energy Security

Trending

Dangote Cement, Jakura Community, Sign Landmark Development Agreement In Kogi
Environment

Dangote Cement, Jakura Community, Sign Landmark Development Agreement In Kogi

by Vital News
September 17, 2025
0

There were jubilations on Wednesday Sept 17, 2025, as Dangote Cement Plc, Obajana Plant, and the Jakura...

GSF Publisher, Lawal Sale, Bags Silk Road Global News Award In China

GSF Publisher, Lawal Sale, Bags Silk Road Global News Award In China

September 17, 2025
BHPF : President Tinubu Approves Immediate Release Of N29,284,145,353.78 To 36 States,FCT

Tinubu Lifts Emergency Rule In Rivers, Fubara, Deputy, Speaker Resume Tomorrow, September 18

September 17, 2025
Catholic Priest Kidnapped In Kogi

Kidnappers Release Kogi Catholic Priest, Rev. Fr. Ezeamba

September 17, 2025
Our CNG Drivers Enjoy Life Insurance, Housing Loans, Earn Three Times The Minimum Wage – Dangote Refinery

Our CNG Drivers Enjoy Life Insurance, Housing Loans, Earn Three Times The Minimum Wage – Dangote Refinery

September 17, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Dangote Cement, Jakura Community, Sign Landmark Development Agreement In Kogi September 17, 2025
  • GSF Publisher, Lawal Sale, Bags Silk Road Global News Award In China September 17, 2025
  • Tinubu Lifts Emergency Rule In Rivers, Fubara, Deputy, Speaker Resume Tomorrow, September 18 September 17, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In