Titan Trust Bank

Titan Trust Bank

Company type	Private
Industry	Banking
Founded	2018;7 years ago (2018)
Headquarters	Lagos , Nigeria
Key people	Tunde Lemo (Chairman), Emmanuel David Chukwudi (CEO)
Number of employees	500
Website	titantrustbank.com

Titan Trust Bank Limited is a Nigerian commercial bank that is licensed by the Central Bank of Nigeria, the national banking regulator. ^[1] The bank provide financial services to micro, small and medium scale enterprises. ^[2] Adaeze Udensi is the CEO of Titan Trust Bank and Tunde Lemo is the Chairman. ^{[3] [4]}

History

Titan Trust Bank was established on 12 December 2018 and received its national banking license in April 2019, to operate as a commercial bank. ^[5] In June 2021, Titan Trust Bank got approval to collect fees on behalf of the federal government under the Nigeria Export Supervision Scheme (NESS). ^[6] The bank has branches in Lagos ^[7] and Kano State. ^[8]

In May 2022, Titan Trust Bank completed the acquisition of the shares of Union Bank of Nigeria's major shareholders, including Union Global Partners Limited, Atlas Mara Limited, Standard Chartered Bank, Montane Partners West Africa Limited and Mr. Emeka Emuwa, to complete transfer of 93.41% of Union Bank's issued share capital to Titan Trust. ^{[9] [10]} In June 2022, Titan Trust Bank got $300 million financing to complete the buyout of a controlling stake in Union Bank. ^[11] In May 2023, Titan Trust Bank Limited acquired the shares of all minority shareholders in Union Bank with 12.18 billion naira. ^[12]

Awards

Best Trade Finance Provider in Nigeria in 2020 by Trade Finance Providers Awards. ^[13]

Deal of the Year Award in 2022 by the BusinessDay Banks and Financial Institutions(BAFI) ^{[14] [15]}

References

1. "Central Bank of Nigeria | Commercial Banks". www.cbn.gov.ng. Retrieved 19 June 2023.
2. "Titan Trust Bank: 2 years of service with power and pride - Daily Trust". dailytrust.com. Retrieved 19 June 2023.
3. Ibeh, Ifeanyi (8 November 2022). "Titan Trust Bank wins 'Deal of the Year,' as CEO, Adaeze Udensi emerges 'Female Banker of the Year'". The Guardian Nigeria News - Nigeria and World News. Retrieved 19 June 2023.
4. "Tunde Lemo, Mudassir Amray... meet bankers behind 2-year-old Titan Trust Bank". TheCable. 25 December 2021. Retrieved 19 June 2023.
5. "Nigeria's central bank licenses three new banks; TAJ Bank, Blobus Bank, and Titan Trust Bank". Pulse Nigeria. 23 July 2019. Retrieved 19 June 2023.
6. Olowookere, Dipo (10 June 2021). "FG Authorises Titan Trust Bank to Collect NESS Levy". Business Post Nigeria. Retrieved 19 June 2023.
7. Omiyale, Aduragbemi (24 August 2021). "Titan Trust Bank Opens New Branch in Apapa Lagos". Business Post Nigeria. Retrieved 19 June 2023.
8. "Titan Trust Bank opens new branch in Kano - P.M. News" . Retrieved 19 June 2023.
9. https://thenationonlineng.net/titan-trust-closes-n13-5b-takeover-bid-for-union-banks-minority-shareholders/
10. Nwachukwu, Iheanyi (25 October 2022). "Titan Trust Bank sets N13.4bn to acquire 1.92bn shares of Union Bank". Businessday NG. Retrieved 19 June 2023.
11. "Titan Trust Bank raises $300 million from Afreximbank to fund Union Bank takeover". Premium Times . 17 June 2022. Archived from the original on 2 August 2023. Retrieved 2 August 2023.
12. Ugwu, Chris (8 May 2023). "Titan Trust Bank to acquire shares of all minority shareholders in Union Bank". Nairametrics. Retrieved 19 June 2023.
13. Bailey, Bunmi (19 January 2021). "Titan Trust Bank emerges 'best trade finance provider' in Nigeria". Businessday NG. Retrieved 14 October 2024.
14. Partners, N. M. (8 November 2022). "Titan Trust Bank wins 'Deal of the Year' award as CEO, Adaeze Udensi emerges 'Female Banker of the Year'". Nairametrics. Retrieved 14 October 2024.
15. "Titan Trust Bank Wins 'Deal of the Year' Award as CEO, Adaeze Udensi Emerges 'Female Banker of the Year' – THISDAYLIVE". www.thisdaylive.com. Retrieved 14 October 2024.