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Nairaland Forum / Nairaland / General / Business / Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank (51366 Views)
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Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by TGM2015: 4:06pm On Dec 23, 2021 |
The Board of Union Bank of Nigeria Plc (Union Bank) 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. 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. SOURCE: https://www.proshareng.com/news/Mergers---Acquisitions/Titan-Trust-Bank-Takes-Over-Union-Bank,-/60587 7 Likes
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Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by iboboyswag(m): 4:32pm On Dec 23, 2021 |
The third transfer of ownership in 10years. Something really is amiss. This is by far Nigeria's biggest bank by asset but liquidity issues continues to be their albatross. Modification Accessbank today holds the position of Nigeria's biggest bank by asset. In other news, there is a need for the new management as a matter of urgent importance to show leadership in driving innovative solutions that can push sales through the various customer segments with particular emphasis on the youth segment of the market. This would require a conscious rebranding in its operations, communications and marketing business units, supported by a robust IT infrastructure to handle the demands of today's banking needs. There is still a viable banking customer base in Nigeria. The unbanked in semi-urban and rural areas and the large cache of disgruntled customers of most of the banks are potent prospects the bank can leverage. The bank needs to grow and sustain its ability to generate liquidity as no amount of foreign capital inflow would sustain it for long, if it is not carving it's share of the market. Just my two cents wey no body ask me. 169 Likes 13 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Mood11: 4:57pm On Dec 23, 2021 |
I will not allow Access Bank to kill me with debits, transferring assets to Piggybank soon. 48 Likes 2 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Bugatie(m): 5:08pm On Dec 23, 2021 |
Big ups to the management of Titan Trust Bank, that’s an unexpected master stroke from them. Congratulations fellow alumni @AdaUdensi and the super team of Titan! You guys please do more to ensure the tide is changed in Union bank, a lot of severe acculturation and brand polishing to be done with everything that has to do with Union! Retire those that needs to go! The old self must give way for the new Titan! I see Titan bank challenging the big industry players very soon, Zenith, GTBank, Globus Bank and the likes. Congratulations once more to Titan. Cheers to more work! 26 Likes 2 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by aieromon(m): 5:11pm On Dec 23, 2021 |
Access v Diamond part 2 Age is nothing but a number....the older banks seem to suffer from poor corporate governance and accumulation of toxic debts over the last couple of years. Union Bank was hit by poor management and the 30bn collateral-free loan facility given to Ololo who was manipulating the stock exchange during that period. It's a wonder how they remained standing after Sanusi flushed away the defaulting CEOs at that time. https://www.nairaland.com/326159/peter-ololo-biggest-bank-debtor First Bank should take note. 58 Likes 4 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Mko123(m): 5:40pm On Dec 23, 2021 |
How much does the masses have that they would try commenting on this thread? Nairalanders will skip this thread like leprosy 5 Likes 1 Share |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by id4sho(m): 5:40pm On Dec 23, 2021 |
Buhari, not again. 3 Likes |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Nobody: 5:40pm On Dec 23, 2021 |
Ok |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Rebuke: 5:40pm On Dec 23, 2021 |
Like seriously? Well, if our money is safe no wahala. No wonder they didn't wish me happy birthday this year. Only dem no send me happy birthday message this year, maybe dem don exhaust their airtime ni 32 Likes 1 Share |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by MRDEE01: 5:41pm On Dec 23, 2021 |
Lizard swallow crocodile. Soon LAPO will take over CBN in this country 97 Likes 6 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by chyzoo4u(m): 5:41pm On Dec 23, 2021 |
I listened to one Fr. Mbaka message some years ago on how the bank will get problem. Do anyone remember? 8 Likes 4 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Nobody: 5:42pm On Dec 23, 2021 |
Any day wey I go break my Kolo, the next day I dey go take over Access Bank, They want to kill my inner man with unexplained debit... Pharaoh4rin: abeg i no dey try anything,,,, Access Bank is killing my inner man, so you want Zenith to kill my outer man as well......No thank you...At least make one of those men still remain... 27 Likes 3 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Donpuffy(m): 5:42pm On Dec 23, 2021 |
Chai |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by mocipe: 5:43pm On Dec 23, 2021 |
This will make TTB more popular as many people are not aware of their existence. 24 Likes 1 Share |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by jidamsel43(m): 5:43pm On Dec 23, 2021 |
Buhari is affecting the major financial institutions too. Please, how many days remain for Buhari to finally leave Abuja? 15 Likes 2 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by chimaobikanu(m): 5:43pm On Dec 23, 2021 |
Hia! Titan trust Kwa? 3 Likes |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by alabi484(m): 5:43pm On Dec 23, 2021 |
Saw it coming |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Ekpekus(m): 5:44pm On Dec 23, 2021 |
So las las Union Bank is no longer "Big, Strong and Reliable". Nigerian banks are just unreliable... 26 Likes 1 Share |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by thoollz: 5:44pm On Dec 23, 2021 |
Buhari use this bank scam people that 2015 too. 9 Likes 1 Share |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by yimikaa: 5:44pm On Dec 23, 2021 |
Union Bank. Big, strong reliable.. Wetin come happen 12 Likes 1 Share |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Cmanforall: 5:44pm On Dec 23, 2021 |
Let them wait o I thought that union bank will never be sold With this, it's possible First Bank will likely be sold in the future 23 Likes 2 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by adelaja70(m): 5:44pm On Dec 23, 2021 |
Tunde Lemo... Former CBN big boy. 30 Likes 4 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Harnny(m): 5:44pm On Dec 23, 2021 |
Another Heritage bank arrangement 3 Likes 1 Share |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by inoki247: 5:45pm On Dec 23, 2021 |
lol |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Rebuke: 5:45pm On Dec 23, 2021 |
mocipe: Lol. Someone like me. Honestly, I am just learning about them here. Titan abi titanic bank, hope it won't sink our money, na that one concern me and make dem no come dey call us say make we come update our account. 14 Likes 3 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Zico5(m): 5:45pm On Dec 23, 2021 |
Chai, so Union Bank want to go the way of Oceanic bank, Bank PHB, Intercontinental bank just to mention a few. To be sincere, no bank is strong in this country. I remember how these liquidated banks used to flex then. Gone are the days o 14 Likes 1 Share |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Nobody: 5:45pm On Dec 23, 2021 |
jidamsel43: Union Bank's problems predate the mannequin's arrival in Aso rock Like since 2009 17 Likes 3 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Geeman2006: 5:45pm On Dec 23, 2021 |
Tunde Lemo. Former deputy Governor of CBN. It's alright. The hustle continues. 14 Likes 2 Shares |
Re: Titan Trust Bank Takes Over Union Bank, Nigeria's Second Oldest Bank by Hubeznigeria(m): 5:45pm On Dec 23, 2021 |
Truly, things fall apart. ***** May we never be unfortunate 11 Likes 2 Shares |
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