One of Nigeria’s oldest banks has been purchased by one of its newest, as part of a strategic shift focusing on increased digitisation of the country’s banking services.
The takeover of Union Bank by Titan Trust Bank last week, hands over control of the bank to TGI, an investment company with interests in pharmaceuticals, FMCG, agricultural inputs, homecare products and industrial chemicals.
Union Bank Plc on Thursday said it had completed its core investors’ sale of a majority shareholding to Titan Trust Bank Ltd., a subsidiary of TGI Group. | Pulse Nigeria