UNION BANK GROWS STRONGLY IN 2022, REACHES NEW HEIGHTS WITH TITAN TRUST BANK INTEGRATION
For Union Bank of Nigeria (“Union Bank”) and its many clients, 2022 is a remarkable, classic and eventful year.
The leading financial institution celebrated 105 years of serving the people of Nigeria with the announcement of the completion of a historic transaction in which the Bank merged with Titan Trust Bank to form a stronger union.
This announcement kicks off a number of notable events and milestones and Union Bank is pleased to recap these milestones the Bank has recorded in 2022.
The highlights of each month are summarized below under the respective headings.
In January 2022:
Union Bank celebrates 105 years of operation when Titan Trust Bank was given the green light by regulators for official integration. The merger of the two units has created an expanded network, increased efficiency and operational capacity, and provided better services to customers. The new leadership has set Union Bank on the path to prosperity and shared growth for its partners and customers across the African continent.
As part of its commitment to go beyond banking to drive innovation and creativity across the country, Union Bank has partnered with AfricaNXT, formerly known as Social Media Week, to host the gathering. largest of innovators across Africa.
As an organization focused on driving digital innovation, Union Bank showcased several “Digital Ventures” products (Kula, Booster and M36) at the event through an interactive booth. The bank also hosted two interesting sessions – a roundtable session and a masterclass session – focusing on the technology ecosystem.
As an organization committed to leading the charge of inclusion and equality, Union Bank has consistently utilized International Women’s Day (IWD) to promote impactful discourse and encourage affirmative action for equality. gender. 2022 is no different. In line with the 2022 global theme #BreakTheBias, the Bank organized an event to celebrate the everyday women who are breaking down stigmas and breaking down barriers in their professional and personal lives. surname.
One of the highlights of the event was the launch of Wehub’s first leaders – Union Bank’s Center for Women’s Empowerment, an intranet launched in 2016 to promote, connect and supporting women in the Bank. Newly elected leaders have been tasked with driving the implementation of impactful initiatives to make the Bank a progressive workplace.
As part of its “Beyond Banking” strategy and commitment to innovation and technological advancement in Nigeria, Union Bank has launched SpaceNXT, a future collaborative innovation and technology hub designed to promote innovate and encourage collaboration in the tech ecosystem in Nigeria. . Located at Union Bank’s headquarters in Lagos, Nigeria, SpaceNXT provides an enabling environment where tech enthusiasts, visionaries and innovators can converge to spread the word. new idea. It is a launching pad for innovators to collaborate, develop and improve ideas around digital systems and technology solutions. May 2022:
After completing the formal integration process and subsequently receiving all necessary regulatory approvals, Union Bank has made an official announcement of the change of control over TGI Group, the parent company. of TTB, is currently a major shareholder and main investor of Union Bank. In addition, the Bank also announced the completion of the transfer of all shares of the Bank (directly and indirectly) in its subsidiary, Union Bank (UK) Plc (“UBUK”) and the appointment of effective Chief Executive Officer, Chairman of the Board of Directors. members of the Board of Directors and establish a new Board of Directors. New CEO, Mr. Mudassir Amray and Chairman of the Board, Farouk Gumel took office on June 2, 2022
Leading development bank Afrexim Bank has supported Titan Trust Bank with an amount of 300,000,000 USD to support integration with Union Bank. This is to ensure that the Bank is well positioned to deliver value to its customers and shareholders. July 2022:
After a successful first season, Union Bank has announced the return of Save & Win Ads, the bank’s flagship campaign to reward new and existing customers with cash rewards and freebies. other free worth more than N55,000,000. The second edition of the national campaign coincides with the Bank’s 105th Anniversary season and it will be even more beneficial for customers to thank them for their support and loyalty over the years.
As part of its ongoing commitment to UN SDG5, Union Bank continues its longstanding partnership with Junior Achievement Nigeria (JAN) to influence over 300 girls, at the 21st edition of Leadership and Development Camp (LEAD) marks the 8th year of cooperation between JAN and Union Bank. The week-long event is used to provide instruction and improve the girls’ skills in the areas of financial literacy, entrepreneurship, technology, creative arts, and entertainment. Program development sessions include coding, understanding sexual abuse and personal hygiene, and participants also receive mentoring from highly respected and respected women in the private sector. public and private of the country.
Mr. Farouk Gumel, Chairman of the Board of Directors, Union Bank of Nigeria, delivered a keynote speech under the theme of the 15th Annual Banking and Finance Conference with the theme Repositioning the Service Industry. Finance in a changing global context. In his speech, Farouk Gumel highlighted how the rapidly expanding agricultural sector in Nigeria has the potential to grow exponentially and contribute not only to the growth of the Nigerian economy but also to the growth of the Nigerian economy. welfare of local farmers, who make up a large proportion of the unbanked.
He highlighted how Union Bank, in its 105-year history, continues to support Nigerian farmers and pointed out that the recent merger with parent corporation TGI has opened up more opportunities for the Bank to take advantage of international partnership for the benefit of the rural economy.
Union Bank signed a Memorandum of Understanding with Attijariwafa Bank to expand its presence in Africa. Attijariwafa Bank is a leading multinational commercial bank and financial services company based in Morocco. Through this partnership, the two banks will explore new joint business opportunities for their respective clients, with the aim of supporting trade finance and investment corridors between Nigeria and all countries operated by Attijariwafa Bank.
To cap off its 105th anniversary activities, Union Bank launched a new sound identity tagged “The Sound of Union”. The release of The Sound of Union, a nine-track EP spanning multiple genres including Afrobeat, High Life, Jazz and Alternative Rock, is part of Bank’s strategy to connect with generations today and tomorrow. The purpose of this launch is to harness the universality of music to create better connections with new and existing audiences through this unique sound identity. The Sound of Union EP is now streaming exclusively on Boomplay.
Awards & Recognitions
The Bank was honoured with a number of national and international awards and recognitions in 2022, including the Global Finance Award for the Best SME Bank 2023, the Euro Money Euromoney ‘Highly Regarded’ Bank for Corporate Banking, Corporate and Social Responsibility (CSR), and Environmental, Social, and Governance, and ‘Notable’ Bank for SME Banking and Digital Solutions. Additionally, we received the Budgit Active Corporate Citizens award for Civic Investments as well as the Middle East and Africa Banking Innovation Awards for Best Trade Finance Platform 2022.
The Financial Inclusion Drive is consistent with the promise made by Union Bank to increase financial inclusion in Nigeria.