Fidelity Bank announced an agreement in June 2022 to purchase a 100% equity position in Union Bank UK.
This was revealed by the bank in a corporate filing on the Nigerian Exchange Limited (NGX) floor.
The bank stated that it obtained CBN’s “No Objection” letter in order to proceed with the transaction.
Union Bank UK first opened its doors in 1983, offering personal banking, trade finance, treasury management, and structured trade and commodities financing.
Titan Trust Bank acquired the bank’s Nigerian arm in the aftermath of the transaction.